Sec. 115. Lease terms and conditions
310 words·~1 min read·
/bill/113/hr/3033/ih/section-115A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
An oil or gas lease issued pursuant to this subtitle shall— provide for the payment of a royalty of not less than 12 ½ percent of the amount or value of the production removed or sold under the lease, as determined by the Secretary in accordance with regulations applicable to other Federal oil and gas leases; require that each lessee of land within the Coastal Plain shall be fully responsible and liable for the reclamation of land within the Coastal Plain and any other Federal land that is adversely affected in connection with exploration, development, production, or transportation activities within the Coastal Plain conducted by the lessee or by any of the subcontractors or agents of the lessee; provide that the lessee may not delegate or convey, by contract or otherwise, that reclamation responsibility and liability to another person without the express written approval of the Secretary; provide that the standard of reclamation for land required to be reclaimed under this subtitle shall be, to the maximum extent practicable— a condition capable of supporting the uses that the land was capable of supporting prior to any exploration, development, or production activities; or on application by the lessee, to a higher or better standard, as approved by the Secretary; contain terms and conditions relating to protection of fish and wildlife, fish and wildlife habitat, subsistence resources, and the environment as required under section 112(g)(1); provide that each lessee, and each agent and contractor of a lessee, use their best efforts to provide a fair share of employment and contracting for Alaska Natives and Alaska Native Corporations from throughout the State of Alaska, as determined by the level of obligation previously agreed to in the Federal Agreement; and contain such other provisions as the Secretary determines to be necessary to ensure compliance with this subtitle and the regulations promulgated under this subtitle.