Idaho Admin. Code r. 20.03.15.030

Current through September 2, 2024
Section 20.03.15.030 - TERM
01.Lease Term. All leases may be for a term of up to forty-nine (49) years from the effective date of the lease.
02.Diligence in Utilization. Lessee will use due diligence to market or utilize geothermal resources in paying quantities. If leased land is capable of producing geothermal resources in paying quantities, but production is shut-in, the lease will continue in force upon payment of rentals for the duration of the lease term or two (2) years after shut-in, whichever is shorter. If the Department determines that the Lessee is proceeding diligently to acquire a contract to sell or to utilize the production or is progressing with installations needed for production, the lease may continue in force for one (1) additional year if rental payments are kept current. The Department will continue to review a shut-in lease every year until production and payment of royalties takes place, or the lease is terminated for Lessee's lack of due diligence or surrendered by the Lessee.
03.Yearly Reporting. A report of all exploration, development, and production activities must be submitted to the Department at the close of each lease year.

Idaho Admin. Code r. 20.03.15.030

Effective March 18, 2022