Section 19-10-8 - Extension of terms of leases. - New Mexico Statutes

19-10-8. [Extension of terms of leases.]

In all cases where public lands under the jurisdiction of the commissioner of public lands are under lease for oil and gas and are concurrently leased for other minerals, and exploration or development operations under the oil and gas lease are incompatible with the exploration or mining operations under the  mining lease and will result in waste of either oil and gas or minerals unless operations under the oil and gas lease are  temporarily suspended, the commissioner of public lands may, from time to time, as to all or part of the lands, by legal subdivisions, waive compliance with the express or implied exploratory, drilling, development or production requirements, or  may extend the term of the oil and gas lease for a period of time sufficient to permit the removal of the minerals and for  subsidence of the ground if necessary.   

Provided, however, no waiver or extension of term of the lease shall be for more  than five years at any one time and shall be effective only upon written order of the commissioner of public lands. Provided, further, the order shall specify the oil and gas and mineral lease numbers and the legal subdivision affected and shall not be  effective until posted on the official land office bulletin board for a period of at least fifteen days.