Sec. 16. Upon the expiration or forfeiture of a permit, a new permit covering the banks or any of the banks embraced by the expired or forfeited permit may not be issued for thirty (30) days following the date of expiration or forfeiture. If more than one (1) application for a permit covering any of the land is made during the thirty (30) day period, the commission shall issue a permit to the land to the person offering the greatest cash bonus for a permit at a public auction to be held at the time and place and in the manner that the commission prescribes by rule. The auction shall be held at any time after the expiration of the thirty (30) day period and the only notice is the entering in a book kept at the office of the commission for the purpose, date, place, and hour of the holding of the auction. The book is a public record.
[Pre-1995 Recodification Citation: 14-4-3-12.]
As added by P.L.1-1995, SEC.31.
Structure Indiana Code
Title 14. Natural and Cultural Resources
Article 38. Other Petroleum Regulation
Chapter 1. Petroleum Exploration on State Property
14-38-1-1. "Commence to Drill a Well" Defined
14-38-1-3. "Petroleum" Defined
14-38-1-4. "Proven Territory" Defined
14-38-1-5. "Public Land" Defined
14-38-1-7. No Permits Issued for Proven Territory
14-38-1-8. Compensation of Landowners and State
14-38-1-9. Prosecution of Operations With Reasonable Diligence
14-38-1-10. Surrender of Permit
14-38-1-11. Permittee's Lease for Petroleum Extraction
14-38-1-12. Other Leases for Petroleum Extraction
14-38-1-14. Consideration for Leases
14-38-1-15. Cancellation of Permit or Lease
14-38-1-16. Issuance of New Permit Following Expiration or Forfeiture
14-38-1-17. Agreement for Production From Same Petroleum Field
14-38-1-18. Terms for Protection of Rights
14-38-1-20. Well Not to Be Drilled Within 330 Feet of Property Boundaries
14-38-1-21. Right-of-Way Grants
14-38-1-22. Development Considerations
14-38-1-24. Prospecting Permits or Leases