[Code of Federal Regulations]
[Title 43, Volume 2]
[Revised as of October 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 43CFR3120.1-1]

[Page 367-368]
 
                    TITLE 43--PUBLIC LANDS: INTERIOR
 
    CHAPTER II--BUREAU OF LAND MANAGEMENT, DEPARTMENT OF THE INTERIOR
 
PART 3120--COMPETITIVE LEASES--Table of Contents
 
                    Subpart 3120--Competitive Leases
 
Sec. 3120.1-1  Lands available for competitive leasing.

    All lands available for leasing shall be offered for competitive 
bidding under this subpart, including but not limited to:
    (a) Lands in oil and gas leases that have terminated, expired, been 
cancelled or relinquished.
    (b) Lands for which authority to lease has been delegated from the 
General Services Administration.
    (c) If, in proceeding to cancel a lease, interest in a lease, option 
to acquire a lease or an interest therein, acquired in

[[Page 368]]

violation of any of the provisions of the act, an underlying lease, 
interest or option in the lease is cancelled or forfeited to the United 
States and there are valid interests therein that are not subject to 
cancellation, forfeiture, or compulsory disposition, such underlying 
lease, interest, or option shall be sold to the highest responsible 
qualified bidder by competitive bidding under this subpart, subject to 
all outstanding valid interests therein and valid options pertaining 
thereto. If less than the whole interest in the lease, interest, or 
option is cancelled or forfeited, such partial interest shall likewise 
be sold by competitive bidding. If no satisfactory bid is obtained as a 
result of the competitive offering of such whole or partial interests, 
such interests may be sold in accordance with section 27 of the Act by 
such other methods as the authorized officer deems appropriate, but on 
terms no less favorable to the United States than those of the best 
competitive bid received. Interest in outstanding leases(s) so sold 
shall be subject to the terms and conditions of the existing lease(s).
    (d) Lands which are otherwise unavailable for leasing but which are 
subject to drainage (protective leasing).
    (e) Lands included in any expression of interest or noncompetitive 
offer, except offers properly filed within the 2-year period provided 
under Sec. 3110.1(b) of this title, submitted to the authorized officer.
    (f) Lands selected by the authorized officer.