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 geothermal resources if he determines that such action is necessary or beneficial to promote development or finds that the lease cannot be successfully operated under the terms of the lease or regulations.
§ 19-13-9 NMSA 1978
Rent or royalties; waiver; suspension; reduction
Known as the Geothermal Resources Act
The act spans §§ 19–19 (30 sections).
1953 Comp., § 7-15-9, enacted by Laws 1967, ch. 158, § 9.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.