[Code of Federal Regulations]

[Title 43, Volume 2]

[Revised as of October 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 43CFR3120.1-1]



[Page 379]

 

                    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 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.