77-3-439. Surrender of leases. The lessee under any oil and gas lease granted by the state may at the termination of any rental year, by giving to the department 30 days' previous notice in writing, surrender and relinquish the lease to the state in whole or as to any legal subdivision of the lands covered thereby and be discharged from any obligation not yet accrued as to lands so surrendered and relinquished without prejudice to the continuance of the lease as to lands not surrendered or relinquished.
History: En. Sec. 18, Ch. 108, L. 1927; re-en. Sec. 1882.18, R.C.M. 1935; amd. Sec. 92, Ch. 428, L. 1973; R.C.M. 1947, 81-1718.
Structure Montana Code Annotated
Chapter 3. Rock, Mineral, Coal, Oil, and Gas Resources
77-3-401. Oil and gas leases authorized
77-3-403. Hearings on questions related to leases
77-3-404. Limitation on area under single lease
77-3-405. Leased lands to be generally compact and contiguous
77-3-406. Number of leases which one person may hold
77-3-407. New leases on lands leased prior to February 28, 1953
77-3-408. Certain state officers not to be interested in leases
77-3-409. Misconduct of officers in relation to oil and gas leases
77-3-410. False statements relating to oil and gas leases
77-3-411. Notice of lease sale required
77-3-412. through 77-3-420 reserved
77-3-422. Lease extension clause
77-3-426. Lessee to prevent waste
77-3-427. Provision for offset wells -- compensatory royalties
77-3-428. Additional development following completion of productive well
77-3-429. Operating agreements
77-3-430. Pooling agreements and unit operations
77-3-434. Manner of making royalty payment
77-3-435. Payments due to state -- audit -- notice -- action
77-3-436. Disposition of royalties and other money
77-3-437. Amendment of existing leases
77-3-438. Assignments of leases
77-3-440. Forfeiture and cancellation of leases
77-3-441. Restriction on new lease following termination of old lease
77-3-442. Disposition of property of lessee upon termination of lease
77-3-443. Reservation in lease for disposition of surface
77-3-444. Limitation on overriding royalties and payments out of production