43 CFR 3109.1-4 - Award of lease or compensatory royalty agreement.

Code of Federal Regulations - Title 43: Public Lands: Interior

Updated to: December 30, 2005

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TITLE 43 - PUBLIC LANDS: INTERIOR

SUBTITLE B - REGULATIONS RELATING TO PUBLIC LANDS

CHAPTER II - BUREAU OF LAND MANAGEMENT, DEPARTMENT OF THE INTERIOR

SUBCHAPTER C - MINERALS MANAGEMENT (3000)

PART 3100 - OIL AND GAS LEASING

subpart 3109 - LEASING UNDER SPECIAL ACTS

3109.1 - 4 - Award of lease or compensatory royalty agreement.

Award of lease to the owner of the right-of-way, or a contract for the payment of compensatory royalty by the owner or lessee of the adjoining lands shall be made to the bidder whose offer is determined by the authorized officer to be to the best advantage of the United States, considering the amount of royalty to be received and the better development under the respective means of production and operation.