N.M. Code R. § 19.2.2.44 – Primary Term of Mineral Lease | Midpage

Collections
New Mexico Administrative Code

§ 44

N.M. Code R. § 19.2.2.44

Primary Term of Mineral Lease

Effective Mar 14, 2001State of New Mexico

A. All mineral leases shall be for a primary term of three years and so long thereafter as minerals are produced or mined in paying quantities.
B. Annual rent during the primary term shall be one dollar per acre, which amount shall be paid in advance each year.

[19.2.2.44 NMAC - N, 03/14/2001]