53C-2-401. Coal and mineral deposits reserved — Exceptions. (1) (a) Except as otherwise expressly provided by law, coal and mineral deposits in trust lands are reserved to the respective trust. (b) Each certificate of sale and patent issued shall contain such a reservation. (c) The purchaser of any lands belonging to the trust: (i) acquires […]
53C-2-402. Mineral leases — Director to establish rules for mineral leases — Revenues to be deposited in Land Grant Management Fund. (1) Mineral leases of all trust lands owned by the state shall be made exclusively by the director, under rules made by the director. (2) Revenues from mineral leases of trust lands shall be […]
53C-2-403. Mineral leases — Director to establish forms, term, rental, and royalty. The director shall establish the: (1) form of a mineral lease application; (2) form of the lease; (3) term of the lease; (4) annual rental; (5) amount of royalty in addition to or in lieu of rental; and (6) basis upon which the […]
53C-2-404. Applicants for mineral leases — Qualifications. Applicants for mineral leases must, throughout the application period and throughout the duration of the lease, be in full compliance with all of the laws of the state as to qualification to do business within the state and must not be in default under those laws or the […]
53C-2-405. Mineral leases — Multiple leases on same land — Lease terms. (1) (a) Mineral leases, including oil, gas, and hydrocarbon leases, may be issued for prospecting, exploring, developing, and producing minerals described by rule as available for lease on any portion of trust lands or the reserved mineral interests of the trust. (b) (i) […]
Effective 5/10/2016 53C-2-407. Mineral lease application procedures. (1) Lands that are not encumbered by a current mineral lease for the same resource, a withdrawal order, or other rule of the director prohibiting the lease of the lands, may be offered for lease as provided in this section or may, with board approval, be committed to […]
53C-2-408. Mineral lease covenants. Each mineral lease shall contain the following covenants: (1) the lessee shall promptly pay any rent annually in advance; (2) waste may not be committed on the land; (3) the premises shall be surrendered at the expiration of the term; (4) the lessee may not assign or sublet without the prior […]
53C-2-409. Mineral leases — Cancellation — Use of surface land — Liability for damage. (1) Upon violation by the lessee of any lawful provision in a mineral lease, the director may, without further notice or appeal, cancel the lease after 30 days notice by registered or certified return receipt mail, unless the lessee remedies the […]
53C-2-410. Shut-in gas wells. (1) Under a mineral lease for oil and gas, gas is considered to be produced in paying quantities from a shut-in gas well if the shut-in gas well is capable of producing gas in paying quantities, but the gas cannot be marketed at a reasonable price due to existing marketing or […]
53C-2-411. Unitization of mineral leases. (1) Mineral lessees, upon prior written authorization from the director, may commit leased trust lands to unit, cooperative, or other plans of development with other lands. (2) The director may, with the consent of the mineral lessee, modify any term of a mineral lease for lands that are committed to […]
53C-2-412. Land subject to federal mineral lease. (1) With respect to any tract of land in which the trust acquires or has acquired any interest subject to an outstanding federal mineral lease or prospecting permit, the lessee or permittee may submit a petition seeking extension of the permit or lease or any other action as […]
53C-2-413. Agreements for the administration of mineral leases by a federal agency. (1) Where this trust has succeeded or will succeed to the position of the United States under a federal mineral or prospecting permit in which only a portion of the lands are subject to the permit, agreements may be entered into with the […]
53C-2-414. Oil shale and tar sands development — Participation by the administration — Credit against future rentals — Limits. (1) The director may participate with oil shale or tar sands lessees in programs for the development of technology for the economic recovery of fuel substances from oil shale or tar sands. (2) (a) A trust […]
