Oil and Gas Leasing Reform Act of 1983

Summary

Oil and Gas Leasing Reform Act of 1983 - Amends the Mineral Leasing Act to revise provisions relating to the authority of the Secretary of the Interior to lease oil and gas lands. Authorizes the Secretary of the Interior to lease to the highest responsible qualified bidder, by competitive bidding, any lands subject to disposition under the Act which may contain oil or gas deposits. Prohibits the Secretary from granting a lease unless: (1) the prospective lessee has the financial and technical capacity to explore for, develop, and produce oil or gas; and (2) the prospective lessee states in writing that diligence standards, with respect to any previously issued lease, are being met. Provides that a lease shall: (1) be for an initial period of five years and as long thereafter as gas or oil is produced from the leased area in compliance with the diligence standards; (2) entitle the lessee to explore, develop, and produce oil and gas, conditioned upon compliance with diligence standards; and (3) be issued pursuant to requirements set forth in the Outer Continental Shelf Lands Act relating to bidding and rent. Requires any lessee conducting exploration for, or development or production of, oil or gas to provide the Secretary access to all data and information obtained from such activity which the Secretary may request. Revises provisions relating to the authority to assign or sublease an oil or gas lease. Permits an assignment or sublease upon a determination by the Secretary that: (1) such assignment or sublease would increase exploration for, and development and production of, oil and gas; and (2) the prospective assignee or sublessee meets the diligence standards.

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1 official file

• Introduced in House

  summary · EN · 21 October 1983

  Open at official source

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