§ 04:01:01:15

ARSD 04:01:01:15

Term of oil and gas lease -- Rental rate.

Effective Feb 8, 19817 SDR 75Source: 2 SDR 36, effective November 20, 1975; 5 SDR 40, effective November 26, 1978; 7 SDR 75, effective February 8, 1981. | General Authority: SDCL 5-7-23 , 5-7-37. | Law Implemented: SDCL 5-7-23.

The term of an oil and gas lease is five years. Rental rate is one dollar per acre per year on a drill or pay basis.

Source: 2 SDR 36, effective November 20, 1975; 5 SDR 40, effective November 26, 1978; 7 SDR 75, effective February 8, 1981.

General Authority: SDCL 5-7-23 , 5-7-37.

Law Implemented: SDCL 5-7-23.