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.
History: 1953 Comp., § 7-15-9, enacted by Laws 1967, ch. 158, § 9.
Cross references. — For accrual of interest on delinquent rental payments for state lands, see 19-1-3 NMSA 1978.
Structure 2021 New Mexico Statutes
Article 13 - Lease of Geothermal Resources on State Lands
Section 19-13-1 - Short title.
Section 19-13-2 - Definitions.
Section 19-13-3 - Administration of act.
Section 19-13-4 - Geothermal resources of commercial value.
Section 19-13-5 - Leases; applications; limitations.
Section 19-13-6 - Known geothermal resources fields.
Section 19-13-7 - Leases; terms; rentals and royalties.
Section 19-13-8 - Leases; relinquishment.
Section 19-13-9 - Rent or royalties; waiver; suspension; reduction.
Section 19-13-10 - Suspension of operation and production.
Section 19-13-11 - Leases; duration.
Section 19-13-11.1 - Leases; stipulation; rental; royalty.
Section 19-13-11.2 - Validation of geothermal resource leases.
Section 19-13-12 - Combining geothermal resources.
Section 19-13-13 - Reinjecting geothermal resources.
Section 19-13-14 - Cooperative development or operation.
Section 19-13-15 - Posting of open acreage; simultaneous applications.
Section 19-13-16 - State land sales and leases; reservations.
Section 19-13-17 - Use of the surface.
Section 19-13-18 - Bonds; surface damage; performance.
Section 19-13-19 - State lands; jurisdictions.
Section 19-13-20 - General mining lease; lease preference.
Section 19-13-21 - Transferability.
Section 19-13-22 - Inspection of records; reports.
Section 19-13-23 - Violation of lease; notice; forfeiture.
Section 19-13-24 - Removing improvements upon termination of lease.
Section 19-13-25 - Regulations.
Section 19-13-26 - Withholding state lands from lease; lease by competitive bids.