Sec. 113. Lease sales
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Land may be leased pursuant to this subtitle to any person qualified to obtain a lease for deposits of oil and gas under the Mineral Leasing Act ( 30 U.S.C. 181 et seq. ). The Secretary shall, by regulation, establish procedures for— receipt and consideration of sealed nominations for any area in the Coastal Plain for inclusion in, or exclusion (as provided in subsection (c)) from, a lease sale; the holding of lease sales after that nomination process; and public notice of and comment on designation of areas to be included in, or excluded from, a lease sale.
Lease sales under this subtitle may be conducted through an Internet leasing program, if the Secretary determines that such a system will result in savings to the taxpayer, an increase in the number of bidders participating, and higher returns than oral bidding or a sealed bidding system. For the first lease sale under this subtitle, the Secretary shall offer for lease those tracts the Secretary considers to have the greatest potential for the discovery of hydrocarbons, taking into consideration nominations received pursuant to subsection (b)(1), but in no case less than 200,000 acres.
The Secretary shall— not later than 22 months after the date of enactment of this Act, conduct the first lease sale under this subtitle; not later than 90 days after the date of the completion of such sale, evaluate the bids in the sale and issue leases resulting from the sale; and conduct additional lease sales under this subtitle at appropriate intervals if sufficient interest in exploration or development exists to warrant the conduct of the additional sales.
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