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43 C.F.R. § 3109.1-5   Compensatory royalty agreement or lease.

Title 43 - Public Lands: Interior

Title 43: Public Lands: Interior
PART 3100—OIL AND GAS LEASING
Subpart 3109—Leasing Under Special Acts

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§ 3109.1-5   Compensatory royalty agreement or lease.

(a) The lease or compensatory royalty agreement shall be on a form approved by the Director.

(b) The royalty to be charged shall be fixed by the Bureau of Land Mangement in accordance with the provisions of §3103.3 of this title, but shall not be less than 121/2 percent.

(c) The term of the lease shall be for a period of not more than 20 years.

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