Non-converted lease

Non-converted lease means a lease located partly or entirely in water less than 200 meters deep issued in a lease sale held after January 1, 2001, and before January 1, 2004, whose original lease terms provided for an RSV for deep gas production and the lessee has not exercised the option under 203.49 to replace the lease terms for royalty relief with those in 203.0 and 203.40 through 203.48.


30 CFR § 203.0

Scoping language

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