E8-10850. Notice of Proposed Reinstatement of Terminated Oil and Gas Leases NDM 87494 and NDM 87496

AGENCY:

Bureau of Land Management, Interior.

ACTION:

Notice.

SUMMARY:

Per 30 U.S.C. 188(d), Continental Resources, Inc. timely filed a petition for reinstatement of oil and gas leases NDM 87494 and NDM 87496, McKenzie County, North Dakota. The lessee paid the required rentals accruing from the date of termination.

No leases were issued that affect these lands. The lessee agrees to new lease terms for rentals and royalties of $10 per acre and 162/3 percent or 4 percentages above the existing competitive royalty rate. The lessee paid the $500 administration fee for the reinstatement of each lease and $163 cost for publishing this Notice.

The lessee met the requirements for reinstatement of the leases per Sec. 31(d) and (e) of the Mineral Leasing Act of 1920 (30 U.S.C. 188). We are proposing to reinstate the leases, effective the date of termination subject to:

• The original terms and conditions of the leases;
• The increased rental of $10 per acre;
• The increased royalty of 162/3 percent or 4 percentages above the existing competitive royalty rate; and
• The $163 cost of publishing this Notice.

FOR FURTHER INFORMATION CONTACT:

Karen L. Johnson, Chief, Fluids Adjudication Section, BLM Montana State Office, 5001 Southgate Drive, Billings, Montana 59101-4669, 406-896-5098.

Dated: May 9, 2008.

Karen L. Johnson,

Chief, Fluids Adjudication Section.