Lease or Grant Relinquishment

(a) You may surrender the lease or grant, or an officially designated subdivision thereof, by filing one paper copy and one electronic copy of a relinquishment application with BOEM. A relinquishment takes effect on the date we approve your application, subject to the continued obligation of the lessee and the surety to:   (1) Make all payments due on the lease or grant, including any accrued rent and deferred bonuses;   (2) Decommission all facilities on the lease or grant to be relinquished to the satisfaction of BOEM; and   (3) Perform any other outstanding obligations under the lease or grant.

(b) Your relinquishment application must include:   (1) Name;   (2) Contact name;   (3) Telephone number;   (4) Fax number;   (5) E-mail address;   (6) BOEM-assigned lease or grant number, and, if applicable, the name of any facility;   (7) A description of the geographic area you are relinquishing;   (8) The name, title, and signature of your authorizing official (the name, title, and signature must match exactly the name, title, and signature in BOEM qualification records); and   (9) A statement that you will adhere to the requirements of subpart I of this part.

(c) If you have submitted an application to relinquish a lease or grant, you will be billed for any outstanding payments that are due before the relinquishment takes effect, as provided in paragraph (a) of this section.