10 U.S.C. § 8724

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Current through P.L. 118-64 (published on www.congress.gov on 05/24/2024), except for [P. L. 118-63]

Section 8724 - Protection of oil reserves; contracts for conservation

(a) To consolidate and protect the oil lands owned by the United States, the Secretary may-

(1) contract with owners and lessees of land inside or adjoining naval petroleum reserves for-

(A) conservation of oil and gas; and

(B) compensation for estimated drainage in lieu of drilling or operating offset wells; and

(2) acquire privately owned lands or leases inside Naval Petroleum Reserve Numbered 1 by exchange of-

(A) lands of the United States inside Naval Petroleum Reserve Numbered 1;

(B) the right to royalty production from any of the naval petroleum reserves; and

(C) the right to any money due the United States as a result of the wrongful extraction of petroleum products from lands inside Naval Petroleum Reserve Numbered 1.

(b) The Secretary shall report annually to Congress all agreements under this section.

10 U.S.C. § 8724

Aug. 10, 1956, ch. 1041, 70A Stat. 458, §7424; Pub. L. 87-796, §1(4), Oct. 11, 1962, 76 Stat. 904; Pub. L. 94-258, title II, §201(5), Apr. 5, 1976, 90 Stat. 309; Pub. L. 96-513, title V, §513(32)(A), Dec. 12, 1980, 94 Stat. 2933; renumbered § 8724,Pub. L. 115-232, div. A, title VIII, §807(d)(5)8724,, 132 Stat. 1836.

HISTORICAL AND REVISION NOTES
Revised section	Source (U.S. Code)	Source (Statutes at Large)
7424	34 U.S.C. 524 (4th par., less 1st proviso).	June 4, 1920, ch. 228 (4th par., less 1st proviso, of amended 3d and 4th provisos), 41 Stat. 813; June 30, 1938, ch. 851, §1, 52 Stat. 1252; June 17, 1944, ch. 262, 58 Stat. 282.

EDITORIAL NOTES

AMENDMENTS2018- Pub. L. 115-232 renumbered section 7424 of this title as this section. 1980-Subsec. (a). Pub. L. 96-513 substituted "Naval Petroleum Reserve Numbered 1" for "naval petroleum reserve numbered 1" wherever appearing. 1976-Subsec. (a). Pub. L. 94-258 struck out "of the Navy" after "Secretary", "and oil shale" after "petroleum" in par. (1), and "in the ground" after "conservation" in subpar. (A) of par. (1). 1962-Subsec. (a). Pub. L. 87-796 inserted provisions in cl. (1) empowering the Secretary to contract with owners and lessees of land inside or adjoining oil shale reserves.

STATUTORY NOTES AND RELATED SUBSIDIARIES

EFFECTIVE DATE OF 2018 AMENDMENT Amendment by Pub. L. 115-232 effective Feb. 1, 2019, with provision for the coordination of amendments and special rule for certain redesignations, see section 800 of Pub. L. 115-232 set out as a note preceding section 3001 of this title.

EFFECTIVE DATE OF 1980 AMENDMENT Amendment by Pub. L. 96-513 effective Dec. 12, 1980, see section 701(b)(3) of Pub. L. 96-513 set out as a note under section 101 of this title.

Secretary: The term "Secretary" means the Secretary of Energy.
naval petroleum reserves: The term "naval petroleum reserves" means the naval petroleum and oil shale reserves established by this chapter, including Naval Petroleum Reserve Numbered 1 (Elk Hills), located in Kern County, California, established by Executive order of the President, dated September 2, 1912; Naval Petroleum Reserve Numbered 2 (Buena Vista), located in Kern County, California, established by Executive order of the President, dated December 13, 1912; Naval Petroleum Reserve Numbered 3 (Teapot Dome), located in Wyoming, established by Executive order of the President, dated April 30, 1915; Oil Shale Reserve Numbered 1, located in Colorado, established by Executive order of the President, dated December 6, 1916, as amended by Executive order dated June 12, 1919; Oil Shale Reserve Numbered 2, located in Utah, established by Executive order of the President, dated December 6, 1916; and Oil Shale Reserve Numbered 3, located in Colorado, established by Executive order of the President, dated September 27, 1924.
petroleum: The term "petroleum" includes crude oil, gases (including natural gas), natural gasoline, and other related hydrocarbons, oil shale, and the products of any of such resources.