NTL 1998-G05 - Confirmation of Deepwater Royalty Relief for Leases Issued After November 28, 1995 - July 1, 1998

We are issuing this Notice to Lessees and Operators (NTL) in response to questions concerning deepwater royalty relief for “eligible” leases. An eligible lease, as defined in 30 CFR 260.102, is a lease that:

• results from a sale held after November 28, 1995;
• is located in the Gulf of Mexico in water depths 200 meters or deeper;
• lies wholly west of 87 degrees, 30 minutes West longitude; and
• is offered subject to a royalty-suspension volume.