§3285.2. When may BLM approve a voluntary termination of a unit agreement?
43 C.F.R. § 3285.2
BLM may approve the voluntary termination of a unit agreement at any time:
After receiving a signed certification agreeing to the termination from a sufficient number of the working interest owners specified in the unit agreement who together represent a majority interest in the unit agreement; and
After the completion of the initial unit obligation well but before the establishment of a participating area; or
After a participating area is established, upon receipt of information providing adequate assurance that:
Diligent development and production of known commercial geothermal resources will occur; and
The public interest is protected.
Notes, amendments, and revision history
Authority
Authority: 30 U.S.C. 1001-1028 and 43 U.S.C. 1701 et seq.
Source
Source: 72 FR 24432, May 2, 2007, unless otherwise noted.