Chapter 274 — Submersible and Submerged Lands
ORS 274.845 Surrender of lease
The lessee may at any time file with the Department of State Lands a written surrender of all rights under the lease or any portion thereof or any separate or distinct zone or geological horizon or any portion thereof. Such surrender shall be effective as of the date of its filing subject to the continuing obligation of the lessee to pay all rentals and royalties theretofore accrued and to place all wells on the lands or in the zones or horizons surrendered in condition for suspension or abandonment
in accordance with the applicable lease terms, regulations and law. Thereupon the lessee shall be released from all obligations under such lease with respect to the lands, zones or horizons surrendered, but no such surrender shall release such lessee from any liability for breach of any monetary obligation of the lease with respect to which such lessee is in default at the time of the filing of such surrender.
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Provenance
2023 Oregon Revised Statutes
Official online edition
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- oregonlegislature.gov
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Version history
Prior statutory text is not available in the ingested published editions. Consult an earlier official ORS edition or the cited Oregon Laws chapter.
2025 Oregon Revised Statutes — official online source · active · operative text
Official source2023 Oregon Revised Statutes · active · operative text
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