Notice of Proposed Reinstatement of Terminated Oil and Gas Lease; Nevada

AGENCY:

Bureau of Land Management, Interior.

ACTION:

Notice.

Pursuant to the provisions of 30 U.S.C. 188(d) and (e), and 43 CFR 3108.2-3(a) and(b)(1), a petition for reinstatement of oil and gas lease NVN-78650 for lands in Elko County, Nevada, was timely filed and was accompanied by all the required rentals accruing from August 1, 2005, the date of termination.

No valid lease has been issued affecting the lands. The lessee, Standard Oil Corporation, has agreed to new lease terms for rentals and royalties at rates of $5.00 per acre or fraction thereof and 162/3 percent, respectively. Standard Oil Corporation has paid the required $500 administrative fee and has reimbursed the Bureau of Land Management for the cost of this Federal Register notice.

Standard Oil Corporation has met all the requirements for reinstatement of the lease as set out in Sections 31(d) and (e) of the Mineral Leasing Act of 1920 (30 U.S.C. 188), and the Bureau of Land Management is proposing to reinstate the lease effective August 1, 2005, subject to the original terms and conditions of the lease and the increased rental and royalty rates cited above.

FOR FURTHER INFORMATION CONTACT:

Elaine Lewis, BLM Nevada State Office, 775-861-6537.