[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: 43CFR3120.7-3]



[Page 382]

 

                    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]