(1) The lease shall grant the exclusive right to drill for and produce all oil, gas and sulfur deposits in the leased land and be for a primary term of 10 years and for so long thereafter as oil, gas or sulfur is produced in paying quantities from the leased land, or lessee is diligently conducting producing, drilling, deepening, repairing, redrilling or other necessary lease or well maintenance operations on the leased land or is excused from conducting such operations under the terms of the lease.
(2) The maximum area which shall be included in any single lease to any person shall be 13,200 acres.
(3) No permit, easement or lease, or any portions thereof shall be assignable without the prior written consent of the Department of State Lands. [1961 c.619 §§8,10,22; 1963 c.359 §1]Section: Previous 274.740 274.745 274.755 274.760 274.765 274.770 274.780 274.785 274.790 274.795 274.800 274.805 274.810 274.815 274.820 Next
Last modified: August 7, 2008