550.183 When may BOEM or the Secretary extend or cancel a lease at the development and production stage§ 550.183 When may BOEM or the Secretary extend or cancel a lease at the development and production stage?
(a) BOEM may extend your lease if you submit a DPP and the Regional Supervisor disapproves the plan according to the regulations in 30 CFR part 550, subpart B. Following the disapproval:
(1) BOEM will allow you to hold the lease for 5 years, or less time at your request;
(2) Any time within 5 years after the disapproval, you may reapply for approval of the same or a modified plan; and
(3) The Regional Supervisor will approve, disapprove, or require modification of the plan under 30 CFR part 550, subpart B.
(b) If the Regional Supervisor has not approved a DPP or required you to submit a DPP for approval or modification, the Secretary will cancel the lease:
(1) When the 5-year period in paragraph (a)(1) of this section expires; or
(2) If you request cancellation at an earlier time.