A bill to amend the Mineral Lands Leasing Act of 1920, and for other purposes.

Summary

Amends the Mineral Lands Leasing Act of 1920 and the Outer Continental Shelf Lands Act to prohibit the issuance of any lease or the granting of any right-of-way under either such Act to any person who: (1) is a party to a merger consummated after February 28, 1984, and prior to six months following the enactment of this Act; and (2) is a substantial energy reserve holder. Defines "merger" to include mergers, consolidations, or acquisitions whereby one person acquires control or a majority of the assets of any other person. Defines "substantial energy reserve holder" as any person who, individually or with affiliates, owns or has an interest in ten million barrels or more of proved reserves of crude oil, natural gas liquids equivalents, or natural gas equivalents.

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Documents

1 official file

• Introduced in Senate

  summary · EN · 28 February 1984

  Open at official source

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