Proposed Reinstatement of Terminated Oil and Gas Lease; New Mexico

摘要

Under the provisions of Public Law 97-451, a petition for reinstatement of Oil and Gas Lease NMNM 64972, Lea County, New Mexico, was timely filed and was accompanied by all required rentals and royalties accruing from April 1, 1974, the date of the termination. No valid lease has been issued affecting the land. The lessee has agreed to new lease terms for rentals and royalties at rates of $5.00 per acre, or fraction thereof, and 16\2/3\ percent, respectively. Payment of a $500.00 administrative fee has been made. Having met all the requirements for reinstatement of the lease as set in Section 31 (d) and (e)), the Bureau of Land Management (BLM) is proposing to reinstate the lease effective April 1, 1994, subject to the original terms and conditions of the lease, the increased rental and royalty rates cited above, and the reimbursement for cost of publication of this Notice.