42 USC 15905 - Royalty relief for deep water production

U.S Code last checked for updates: Oct 18, 2024

§ 15905.

Royalty relief for deep water production

(a)

In general

(b)

Suspension of royalties

The suspension of royalties under subsection (a) shall be established at a volume of not less than—

(1)

5,000,000 barrels of oil equivalent for each lease in water depths of 400 to 800 meters;

(2)

9,000,000 barrels of oil equivalent for each lease in water depths of 800 to 1,600 meters;

(3)

12,000,000 barrels of oil equivalent for each lease in water depths of 1,600 to 2,000 meters; and

(4)

16,000,000 barrels of oil equivalent for each lease in water depths greater than 2,000 meters.

(c)

Limitation

(Pub. L. 109–58, title III, § 345, Aug. 8, 2005, 119 Stat. 703.)

cite as: 42 USC 15905