Section 11.82.635. Surrenders.

	(a)  All of the rights in land held under a lease, oil and gas exploration license, or prospecting permit may be surrendered by the lessee, licensee, or permittee of record by filing a written surrender at the appropriate office of the department. A surrender of a legal subdivision of the land held under a lease, oil and gas exploration license, or prospecting permit, or of a separate and distinct zone or geological horizon in all or a portion of the land, is not effective unless approved by the commissioner.  
	(b)  A surrender takes effect on the date it is filed, or on the date of approval if approval is required, subject in either case to the continued obligation of the lessee, licensee, or permittee and the surety to make payment of all accrued royalties and rentals and to place the surrendered land in condition satisfactory to the commissioner for abandonment.  
	(c)  A surrender must be filed in accordance with 11 AAC 88.105, but a filing fee is not required.  

Authorities

38.05.020;38.05.131;38.05.132;38.05.133;38.05.145

Notes

Reference

11 AAC 82.957
11 AAC 86.321
11 AAC 86.561

Authority

AS 38.05.020 AS 38.05.131 AS 38.05.132 AS 38.05.133 AS 38.05.145

History

Eff. 9/5/74, Register 51; am 7/22/79, Register 71; am 5/30/85, Register 94; am 9/22/95, Register 135