§ 6827.2. — 6827.2. (Added by Stats. 1975, Ch. 476.)

California § 6827.2.

• Jurisdiction: California
• Code PRC: Public Resources Code - PRC
• Div. 6.: DIVISION 6. PUBLIC LANDS
• Part 2.: PART 2. LEASING OF PUBLIC LANDS
• Ch. 3.: CHAPTER 3. Oil and Gas and Mineral Leases
• Art. 2.: ARTICLE 2. Provisions Relating to Oil and Gas Leases Generally

Text

In order to prevent the premature abandonment of a lease, notwithstanding any other provision in this chapter, if, after the holding of a public hearing, the commission finds that continued production from a lease is in the best interests of the people of California and that such production is economically unfeasible under the terms set forth in the lease, the commission may renegotiate the lease to reduce the minimum royalty rate or to substitute such other consideration as would be in the best interests of the state.

Legislative History

Added by Stats. 1975, Ch. 476.