(a) A mineral lessee under an oil and gas lease does not owe a fiduciary duty or a fiduciary obligation to the mineral lessor.
(b) The mineral lessee shall:
(1) Perform the covenants of the lease in good faith; and
(2) Develop and operate the leased mineral estate as a prudent operator for the mutual benefit of the mineral lessor and mineral lessee.
Structure Arkansas Code
Title 15 - Natural Resources and Economic Development
Subtitle 6 - Oil, Gas, and Brine
Chapter 73 - Oil And Gas Leases And Lease Interests
Subchapter 2 - Leases Generally
§ 15-73-201. Lease extended by production — Scope
§ 15-73-203. Forfeiture of oil, gas, or mineral leases — Duty of lessee to cancel or release
§ 15-73-204. Notice to lessee to release forfeited lease — Damages for failure to release
§ 15-73-205. Failure to pay rental installment — Endorsement of forfeiture