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No lease covering land on which there is a well capable of producing oil or gas in paying quantities will expire because the lessee fails to produce oil or gas, unless the commissioner gives notice to the lessee or operator allowing a reasonable time, which will not be less than 60 days after receipt of notice, to place the well on a producing status and the lessee or operator fails to do so. After producing status is established, production must continue on the leased land until suspension of production is allowed by the commissioner.
History: Eff. 9/5/74, Register 51; am 7/22/79, Register 71
Authority: AS 38.05.020
AS 38.05.140 (d)
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Last modified 7/05/2006