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Code of Federal Regulations Title 43. Public Lands:  Interior § 43.3107.6 Extension of reinstated leases

Current as of January 02, 2025 | Updated by Findlaw Staff

Where a reinstatement of a terminated lease is granted under § 3108.2 of this title and the authorized officer finds that the reinstatement will not afford the lessee a reasonable opportunity to continue operations under the lease, the authorized officer may extend the term of such lease for a period sufficient to give the lessee such an opportunity. Any extension shall be subject to the following conditions:

(a) No extension shall exceed a period equal to the unexpired portion of the lease or any extension thereof remaining at the date of termination.

(b) When the reinstatement occurs after the expiration of the term or extension thereof, the lease may be extended from the date the authorized officer grants the petition, but in no event for more than 2 years from the date the reinstatement is authorized and so long thereafter as oil or gas is produced in paying quantities.

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Cite this article: FindLaw.com - Code of Federal Regulations Title 43. Public Lands:  Interior § 43.3107.6 Extension of reinstated leases - last updated January 02, 2025 | https://codes.findlaw.com/cfr/title-43-public-lands-interior/cfr-sect-43-3107-6/

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