Page:United States Statutes at Large Volume 96 Part 2.djvu/1101

 PUBLIC LAW 97-451—JAN. 12, 1983

96 STAT. 2463

as oil or gas is produced in paying quantities. In any case where a lease is reinstated under this subsection and the Secretary finds that the reinstatement of such lease (A) occurs after the expiration of the primary term or any extension thereof, or (B) will not afford the lessee a reasonable opportunity to continue operations under the lease, the Secretary may, at his discretion, extend the term of such lease for such period as he deems reasonable, but in no event for more than two years from the date the Secretary authorizes the reinstatement and so long thereafter as oil or gas is produced in paving quantities. (2) No lease shall be reinstated under paragraph (1) of this subsection unless— "(A) with respect to any lease that terminated under subsection (b) of this section prior to enactment of the Federal Oil and Gas Rovalty Management Act of 1982: ^"te> P- 2447. (i) the lessee tendered rental prior to enactment of such s Act and the final determination that the lease terminated was made by the Secretary or a court less than three years before enactment of such Act, and "(id a petition for reinstatement together with the required back rental and royalty accruing from the date of termination, is filed with the Secretary on or before the one hundred and twentieth day after enactment of such Act, or "(B) with respect to any lease that terminated under subsection (b) of this section on or after enactment of the Federal Oil and Gas Royalty Management Act of 1982, a petition for reinstatement together with the required back rental and royalty accruing from the date of termination is filed on or before the earlier of— "(i) sixty days after the lessee receives from the Secretary notice of termination, whether by return of check or by any other form of actual notice, or "(ii) fifteen months after termination of the lease. "(e) Any reinstatement under subsection (d) of this section shall be Reinstatement made only if these conditions are met: conditions. "(1) no valid lease, whether still in existence or not, shall have been issued affecting any of the lands covered by the terminated lease prior to the filing of such petition: Provided, however, That after receipt of a petition for reinstatement, the Secretary shall not issue any new lease affecting any of the lands covered by ,,, such terminated lease for a reasonable period, as determined in " accordance with regulations issued by him; "(2) payment of back rentals and either the inclusion in a reinstated lease issued pursuant to the provisions of section 17(b) of this Act of a requirement for future rentals at a rate of 30 USC 226. not less than $10 per acre per year, or the inclusion in a reinstated lease issued pursuant to the provisions of section 17(c) of this Act of a requirement that future rentals shall be at a rate not less than $5 per acre per year, all as determined by the Secretary; "(3)(A) payment of back royalties and the inclusion in a u reinstated lease issued pursuant to the provisions of section 17(b) of this Act of a requirement for future royalties at a rate of not less than 16% percent computed on a sliding scale based upon the average production per well per day, at a rate which shall be not less than 4 percentage points greater than the competitive royality schedule then in force and used for royalty

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