43 C.F.R. § 3207.5

Current through May 31, 2024

Section 3207.5 - What terms (time periods) apply to my lease?

Your lease may include a number of different time periods. Not every time period applies to every lease. These periods include:

(a) A primary term consisting of:

(1) Ten years;

(2) An initial extension of the primary term for up to 5 years;

(3) An additional extension of the primary term for up to 5 years;

(b) A drilling extension of 5 years under § 3207.14 ;

(c) A production extension of up to 35 years; and

(d) A renewal period of up to 55 years.

43 C.F.R. §3207.5