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Current as of January 01, 2024 | Updated by Findlaw Staff
The lessee shall be required to submit to the commissioner of public lands with each and every royalty payment, a correct statement showing the amount of oil or gas produced and saved since the last report and the market value thereof, except oil and gas used in developing and operating said lease. All books and accounts of the lessee pertaining to the production, transportation and marketing of the output from the leased lands shall be open to the examination and inspection at all reasonable hours by the commissioner of public lands or his representative. The value of any unpaid royalty, and any sum due the state upon any lease, shall become a prior lien upon the production from the leased premises and the improvements situated thereon. The lessee shall furnish to the commissioner of public lands, as and when called for by him, a full, accurate and complete log, and also a complete specimen of drill cuttings of any and all wells drilled by lessee on the leased lands.
Cite this article: FindLaw.com - New Mexico Statutes Chapter 19. Public Lands § 19-10-11. Statement with royalty payment; inspection of books; state's lien for unpaid royalty; log; specimen of drill cuttings - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-19-public-lands/nm-st-sect-19-10-11/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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