Louisiana Administrative Code
Title 43 - NATURAL RESOURCES
Part V - Office of Mineral Resources
Chapter 9 - Leasing State Owned Lands and Water Bottoms for the Exploration, Development and Production of an Alternative Energy Source
Subchapter B - Lease Administration
Section V-942 - Partial or Full Release of an Alternative Energy Source Lease [Formerly LAC 43:I.1142]
Current through Register Vol. 50, No. 9, September 20, 2024
A. Upon expiration or termination of an AESL, in whole or in part, for any reason, the principle alternative energy source lessee shall execute and record an appropriate instrument of release within 90 days of expiration or termination in each parish wherein the leased premises are located and shall provide the board, through OMR, with a copy of the recorded instrument of release from each parish wherein it is recorded properly certified by the recorder for that parish. In the event the principle alternative energy source lessee fails to comply, all other active joint-lessees shall be jointly and solidarily liable for liquidated damages in the amount of $100 per day commencing on day 91 after expiration or termination. The lessee(s) shall also be responsible for reasonable attorney fees and costs incurred should litigation be required for AESL cancellation.
B. The release instrument shall contain the AESL number and shall be signed by the principle alternative energy source lessee, with the signature duly witnessed and notarized. Failure to follow the notarization requirements of R.S. 35:12 shall be grounds for rejection of the release instrument.
C. Should a lessee wish to release only a portion of the leased acreage, the lessee shall contain the whole of the retained acreage within a single contiguous block of acreage.
AUTHORITY NOTE: Promulgated in accordance with R.S. 30:124.