For AI agents: read the machine-readable documentation index at /llms.txt or the single-file full reference at /llms-full.txt.
Form a Business

Exploratory form of lease; different term of years

NMSA 1978, § 19-10-7
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
19-10-7. Exploratory form of lease; different term of years A. When issuing an oil and gas lease on the exploratory lease form, if the conditions of the tract subject to the lease are such that a different term of years for the lease is warranted, the commissioner in his discretion may issue the lease for a primary term of five years with no secondary term. B. Any deviations from the lease form set forth in Section 19-10-4.1 NMSA 1978 pursuant to Subsection A of this section shall be specified in the notice of the lease sale as required under Section 19-10-17 NMSA 1978. 1978 Comp., § 19-10-7, enacted by Laws 1987, ch. 173, § 2.
Source: New Mexico Compilation Commission (nmonesource.com)URL: https://nmonesource.com/nmos/nmsa-unanno/en/item/18519/index.do#!b/19-10-7Fetched: 10/20/2026

Starting a business in New Mexico? New Mexico LLC guide: costs and requirements