Arkansas Statutes
§ 15-73-207 — Prudent operator standard
Arkansas·Title 15
(a)A mineral lessee under an oil and gas lease does not owe a fiduciary duty or a fiduciary obligation to the mineral lessor.
(b)The mineral lessee shall:
(1)Perform the covenants of the lease in good faith; and (2) Develop and operate the leased mineral estate as a prudent operator for the mutual benefit of the mineral lessor and mineral lessee.
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Arkansas § 15-73-207 (Prudent operator standard) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Related
SEECO, Inc. v. Snow
2016 Ark. 444 (Supreme Court of Arkansas, 2016)
Turner v. XTO Energy, Inc.
(W.D. Arkansas, 2019)
Bryant Lewis v. Enerquest Oil and Gas
792 F.3d 872 (Eighth Circuit, 2015)
Legislative History
Acts 2009, No. 719, § 1.
Nearby Sections
15
§ 15-1-101
Economic Advisor§ 15-10-201
Title§ 15-10-202
Declaration of policy§ 15-10-203
Arkansas Energy Office - Creation§ 15-10-204
Arkansas Energy Office - Director§ 15-10-301
Declaration of policy§ 15-10-302
Definitions§ 15-10-303
License or permit requirement§ 15-10-304
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