§ 303. Conditions precedent to award of lease; preferred class; bidding

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1930

   Pub. L. 71–307 § 3 · 46 Stat. 373

   Enacted · 30 U.S.C. § 303

   (May 21, 1930, ch. 307, § 3, 46 Stat. 374.)

   Source evidence

   Code source credit
   (May 21, 1930, ch. 307, § 3, 46 Stat. 374.)

   Enacted provision · exact public law section
   Sec. 3. That prior to the award of any lease under section 1 of tills Act, the Secretary of the Interior shall notify the owner or lessee of adjoining lands and allow him a reasonable time, to be fixed in the notice given, within which to submit an offer or bid of the amount or percentage of compensatory royalty that such owner will agree to pay for the extraction through wells on his or its adjoining land, of the oil or gas under and from such adjoining right of way, and Offer from holder of right of way. at the same time afford the holder of the railroad or other right of way a like opportunity within the same time to submit its bid or offer as to the amount or percentage of royalty it will agree to pay, if a lease for the extraction of the oil and gas deposits under the Grant of award. right of way be awarded to the holder of such right of way. In case of competing offers by the said parties in interest, the Secretary shall award the right to extract the oil and gas to the bidder, duly Qualified, making the offer in his opinion most advantageous to the United States. In case but one bid or offer is received after notice duly given, he may, in his discretion award the right to extract the oil and gas to such bidder.

1 of 1 references resolved to an enrolled provision