R652-80-600. Mineral Estates and Leases

1. State mineral interests may be exchanged in accordance with Section 65A-6-1(2).

2. Mineral estate exchanges must clearly be in the best interest of the beneficiaries as documented by a record of decision. The record of decision shall address those criteria listed in R652-80-200.

3. In exchanges with persons other than the federal government, all mineral estates are reserved to the state unless exceptional circumstances justify the exchange of the mineral estate.

4. Upon the exchange of state mineral estate, state mineral leases shall continue to be administered by the division until the termination, relinquishment or expiration of the lease. Upon termination of the mineral lease the administration of the mineral estate transfers to the acquiring party.