Section 19-13-28 – Collateral assignment of leases.
Any lease for geothermal resources in good standing, together with improvements placed on the land thereunder, may be assigned as collateral security under the same procedures and in the same manner as provided by law for filing, recording, approval, release and foreclosure of state land purchase contracts issued by the commissioner. When any assignment pursuant […]
Section 19-14-1 – Commissioner of public lands to reserve certain rights to the state in leases or other conveyances of any mineral interests or rights to minerals in state lands.
In any lease or other conveyance of state lands granting any interest in or rights to minerals of whatsoever kind, including oil and gas, in those lands executed by the commissioner of public lands after the effective date of this section, the following reservation of rights to the state shall be made: “The state has […]
Section 19-14-2 – Waiver of requirements for reservation of rights in leases or conveyance for specific minerals; procedures for waiver.
A. The commissioner of public lands may waive by written order the reservation of rights required under Section 1 [19-14-1 NMSA 1978] of this act in respect to any specific mineral, other than fossil fuels, for which there is no significant consumptive use within the state, but such order may be made only: (1) after […]
Section 19-14-3 – Disposal of minerals by commissioner of public lands.
The commissioner of public lands shall dispose of any minerals reserved under this act [19-14-1 to 19-14-3 NMSA 1978] at the best price available in order to gain the maximum benefit for the trust beneficiaries. History: 1953 Comp., § 7-16-3, enacted by Laws 1973, ch. 26, § 3.
Section 19-15-1 to 19-15-10 – Repealed.
ANNOTATIONS Repeals. — Laws 1981, ch. 241, § 13, repealed 19-15-1 to 19-15-10 NMSA 1978, as enacted by Laws 1980, ch. 153, §§ 1 to 10 and as amended by Laws 1981, ch. 241, § 13, relating to administration of public lands, effective July 1, 1990.
Section 19-13-17 – Use of the surface.
Subject to the provisions of the Geothermal Resources Act, any person holding a lease for geothermal resources shall be entitled to use so much of the surface as is reasonably necessary as determined by the commissioner for the production and conservation of geothermal resources. History: 1953 Comp., § 7-15-17, enacted by Laws 1967, ch. 158, […]
Section 19-13-9 – Rent or royalties; waiver; suspension; reduction.
The commissioner may, after a public hearing, waive, suspend or reduce the rental or minimum royalty for the lands included in a lease, or any portion thereof, and waive, suspend, alter or amend the operating requirements contained in a lease or regulation in the interest of conservation and to encourage the greatest ultimate recovery of […]
Section 19-13-10 – Suspension of operation and production.
The commissioner may, upon application and after a public hearing, suspend operations and production on a producing lease. On his own motion and after a public hearing, the commissioner, in the interest of conservation, may suspend operations on any lease, but in any such case he shall extend the lease term for the period of […]
Section 19-13-11 – Leases; duration.
A. Any lease entered into pursuant to the Geothermal Resources Act shall be for a primary term of five years and so long thereafter as geothermal resources are being produced or utilized or are capable of being produced or utilized in commercial quantities from such lands or from lands unitized therewith, subject to continued payment […]
Section 19-13-11.1 – Leases; stipulation; rental; royalty.
The owner or owners of any geothermal resources lease or approved assignment thereof, heretofore issued by the commissioner, which lease has not automatically expired by its own terms or which has not been canceled after proper notice by the commissioner and which has otherwise been maintained in good standing, may enter into a stipulation with […]