N.M. Admin. Code § 19.2.2.51
Current through Register Vol. 35, No. 23, December 10, 2024
If for any reason beyond the lessee's control, production in paying quantities ceases after the quaternary term would have expired, then the lessee may, with the written approval of the commissioner, continue the lease from year to year for an additional period not to exceed three years. The lessee shall continue to pay in advance the annual rental at the rate provided in the quaternary term and an advance royalty of sixty dollars per acre per each year of the extended term.
N.M. Admin. Code § 19.2.2.51