Idaho Administrative Code
Title IDAPA 20 - Lands, Department of
Rule 20.03.16 - RULES GOVERNING OIL AND GAS LEASING ON IDAHO STATE LANDS
Section 20.03.16.070 - SURRENDER - RELINQUISHMENT
Current through August 31, 2023
01. Procedure. The lessee may surrender its lease or any surveyed subdivision of the area covered by such lease, by filing a written relinquishment with the Department, provided that a partial relinquishment does not reduce the remaining acreage in the lease to less than forty (40) acres or a government lot, whichever is less. The Director may waive the minimum acreage provision of this rule if he finds it is justified on the basis of exploratory and development data derived from activity on the leasehold. (3-18-22)
02. Effective Date. A relinquishment takes effect thirty (30) days after it is received by the Department. Thereafter the lessee is relieved of liability under these rules except for the continued obligation of the lessee and his surety to: (3-18-22)
03. Partial Surrender. In the event of a partial surrender of the land covered by such lease, the annual rental thereafter payable will be reduced proportionately. (3-18-22)