2017 US Code
Title 10 - Armed Forces
Subtitle C - Navy and Marine Corps
Part IV - General Administration
Chapter 641 - Naval Petroleum Reserves
Sec. 7424 - Protection of oil reserves; contracts for conservation
| 10 U.S.C. § 7424 (2017) | ||||||
| §7424. Protection of oil reserves; contracts for conservation | ||||||
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(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. |
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(Aug. 10, 1956, ch. 1041, 70A Stat. 458; 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.) |
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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. EFFECTIVE DATE OF 1980 AMENDMENTAmendment 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. |
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| United States Code, 2012 Edition, Supplement 5, Title 10 - ARMED FORCES | ||||||
| Bills and Statutes | ||||||
| United States Code | ||||||
| Y 1.2/5: | ||||||
| Title 10 - ARMED FORCES Subtitle C - Navy and Marine Corps PART IV - GENERAL ADMINISTRATION CHAPTER 641 - NAVAL PETROLEUM RESERVES Sec. 7424 - Protection of oil reserves; contracts for conservation |
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| section 7424 | ||||||
| 2017 | ||||||
| January 12, 2018 | ||||||
| Yes | ||||||
| standard | ||||||
| 41 Stat. 813 52 Stat. 1252 58 Stat. 282 76 Stat. 904 90 Stat. 309 94 Stat. 2933 |
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| Public Law 87-796, Public Law 94-258, Public Law 96-513 |
