The commissioner of public lands shall have the authority to negotiate and enter into agreements for the sale or exchange of royalty gas taken in kind under oil and gas leases issued by the state. Provided, however, he shall not dispose of said gas for a net consideration of less than that being received at the time of exercising the option. In selling or exchanging the gas, the commissioner of public lands shall be entitled to use the lessee's gathering, processing and compression facilities provided that reasonable compensation is made to the lessee for such use. History: 1953 Comp., § 7-11-54.1, enacted by Laws 1972, ch. 70, § 3. ANNOTATIONSBracketed material. — The bracketed material was inserted by the compiler and is not part of the law.
New Mexico Legal Code