Class I lease

Class I lease means:
(1) A lease that BLM issued before August 8, 2005, for which the lessee has not converted the royalty rate terms under 43 CFR 3212.25; or
(2) A lease that BLM issued in response to an application that was pending on August 8, 2005, for which the lessee has not made an election under 43 CFR 3200.8(b).

Source

30 CFR § 1206.351

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Scoping language

For purposes of this subpart, the following terms have the meanings indicated.

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