Louisiana § 31:177 Co-owner of mineral lease may not operate independently except to prevent waste, destruction, or termination

Louisiana Statutes

§ 31:177 — Co-owner of mineral lease may not operate independently except to prevent waste, destruction, or termination

Louisiana·Title 31 Motor Vehicles and Traffic Regulation

A co-owner of the lessee's interest in a mineral lease may not independently conduct operations or, except as provided in this article and Article 171, deal with the interest without the consent of his co-owner. He may act to prevent waste, destruction, or termination of the lease and to protect the interest of all, but cannot impose upon his co-owner liability for any costs or expenses except out of production. In so acting he must act in good faith and must deal with the interest of the remaining owner or owners in the manner of a reasonably prudent lessee whose interest is not subject to co-ownership.

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A co-owner of the lessee's interest in a mineral lease may not independently conduct operations or, except as provided in this article and Article 171, deal with the interest without the consent of his co-owner. He may act to prevent waste, destruction, or termination of the lease and to protect the interest of all, but cannot impose upon his co-owner liability for any costs or expenses except out of production. In so acting he must act in good faith and must deal with the interest of the remaining owner or owners in the manner of a reasonably prudent lessee whose interest is not subject to co-ownership.

Louisiana § 31:177 (Co-owner of mineral lease may not operate independently except to prevent waste, destruction, or termination) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.