,,ii #aag? ,,congress #a/ ,session ,s4 #bifb ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,octob] #g1 #bjba,mr4 ,hick5loop] 7= himself1 ,mr4 ,he9ri*1 & ,ms4 ,ros57 introduc$ ! foll[+ bill2 :i* 0 read twice & ref]r$ to ! ,committee on ,en]gy & ,natural ,res\rces ,a ,,bill ,to am5d ! ,m9]al ,leas+ ,act to ensure m>ket competition 9 on%ore oil & gas leas+1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,competitive ,on%ore ,m9]al ,policy via ,elim9at+ ,taxpay]-,enabl$ ,speculation ,act or ! ,,competes ,act4 #b4 ,/atem5t ( policy ,x is ! policy ( ! ,unit$ ,/ates t ! ,secret>y ( ! ,int]ior %all n issue on%ore oil & gas leases except ?r\gh a competitive bidd+ process4 #c4 ,elim9ation ( noncompetitive leas+ "u ! ,m9]al ,leas+ ,act 7a7 ,oil & gas leas+ ,section #ag ( ! ,m9]al ,leas+ ,act 7#cj ,u4,s4,c4 #bbf7 is am5d$-- 7#a7 by /rik+ subsection 7a7 & ins]t+ ! foll[+3 7a7 ,leas+ au?ority 7#a7 ,9 g5]al ,all l& subject to disposition "u ?is ,act t is kn[n or believ$ to conta9 oil or gas deposits may be leas$ by ! ,secret>y4 7#b7 ,receipt ( fair m>ket value ,9 conduct+ leas+ activities "u ?is ,act1 ! ,secret>y %all ensure ! receipt by ! ,unit$ ,/ates ( fair m>ket value =-- 7,a7 any l& or res\rces leas$ by ! ,unit$ ,/ates2 & 7,b7 any rights convey$ by ! ,unit$ ,/ates4 2 7#b7 9 subsection 7b7-- 7,a7 9 p>agraph 7#a77;,a7-- 7i7 9 ! fir/ s5t5ce1 by /rik+ p>agraphs 7#b7 & 7#c7 ( ?is subsection & ins]t+ p>agraph 7#b72 & 7ii7 by /rik+ ! la/ s5t5ce2 & 7,b7 by /rik+ p>agraph 7#c72 7#c7 by /rik+ subsection 7c7 & ins]t+ ! foll[+3 7c7 ,additional r\nds ( competitive bidd+ ,l& made available = leas+ "u subsection 7b77#a7 = :i* no bid is accept$ or receiv$1 or ! l& = :i* a lease t]m9ates1 expires1 is cancell$1 or is rel9qui%$1 may be made available by ! ,secret>y ( ! ,int]ior = a new r\nd ( competitive bidd+ "u t subsection4 2 & 7#d7 by /rik+ subsection 7e7 & ins]t+ ! foll[+3 7e7 ,t]m ( lease 7#a7 ,9 g5]al ,any lease issu$ "u ?is section1 includ+ a lease = t> s& areas1 %all be = a prim>y t]m ( #aj ye>s4 7#b7 ,cont9uation ( lease ,a lease describ$ 9 p>agraph 7#a7 %all cont9ue aft] ! prim>y t]m ( ! lease = any p]iod dur+ :i* oil or gas is produc$ 9 pay+ quantities4 7#c7 ,additional ext5sions ,any lease issu$ "u ?is section = l& on :i*1 or = :i* "u an approv$ coop]ative or unit plan ( developm5t or op]ation1 actual drill+ op]ations 7 comm5c$ prior to ! end ( ! prim>y t]m ( ! lease & are be+ dilig5tly prosecut$ at ! "t ! prim>y t]m ( ! lease ends %all be ext5d$ = #b ye>s & = any p]iod !reaft] dur+ :i* oil or gas is produc$ 9 pay+ quantities4 4 7b7 ,con=m+ am5dm5ts ,section #ca ( ! ,m9]al ,leas+ ,act 7#cj ,u4,s4,c4 #ahh7 is am5d$-- 7#a7 9 subsection 7d77#a71 9 ! fir/ s5t5ce1 by /rik+ or section #ag7;c7 ( ?is ,act2 7#b7 9 subsection 7e7-- 7,a7 9 p>agraph 7#b7-- 7i7 by /rik+ ei!r2 & 7ii7 by /rik+ or ! inclusion & all t foll[s ?r\gh 1 all2 & 7,b7 9 p>agraph 7#c7-- 7i7 9 subp>agraph 7,a71 by add+ & aft] ! semicolon2 7ii7 by /rik+ subp>agraph 7,b72 & 7iii7 by /rik+ 7#c77;,a7 paym5t & ins]t+ ! foll[+3 7#c7 paym5t 2 7#c7 9 subsection 7g7-- 7,a7 9 p>agraph 7#a71 by /rik+ z a competitive & all t foll[s ?r\gh ( ?is ,act & ins]t+ 9 ! same mann] z ! orig9al lease issu$ pursuant to section #ag2 7,b7 by /rik+ p>agraph 7#b72 7,c7 by r$esignat+ p>agraphs 7#c7 & 7#d7 z p>agraphs 7#b7 & 7#c71 respectively2 & 7,d7 9 p>agraph 7#b7 7z s r$esignat$71 by /rik+ applicable to leases issu$ "u subsection #ag7;c7 ( ?is ,act 7#cj ,u4,s4,c4 #bbf7;c77 except1 & ins]t+ except2 7#d7 9 subsection 7h71 by /rik+ subsections 7d7 & 7f7 ( ?is section & ins]t+ subsection 7d72 7#e7 9 subsection 7i71 by /rik+ 7i77#a7 ,9 act+ & all t foll[s ?r\gh ( ?is section 9 p>agraph 7#b7 & ins]t+ ! foll[+3 7i7 ,royalty r$uction 9 re9/at$ leases ,9 act+ on a petition = re9/atem5t pursuant to subsection 7d7 2 7#f7 by /rik+ subsection 7f72 & 7#g7 by r$esignat+ subsections 7g7 ?r\gh 7j7 z subsections 7f7 ?r\gh 7i71 respectively4