[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: 43CFR3120.7-3]

[Page 371]
 
                    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. 3120.7-3  Compensatory royalty agreements.

    The terms and conditions of compensatory royalty agreements 
involving acquired lands in which the United States owns a future or 
fractional interest shall be established on an individual case basis. 
Such agreements shall be required when leasing is not possible in 
situations where the interest of the United States in the oil and gas 
deposit includes both a present and a future fractional interest in the 
same tract containing a producing well.

[53 FR 22843, June 17, 1988]