Oregon Statutes 274.840 – Continuation of lease after cessation of production
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In the event production on the leasehold shall cease at any time or from time to time, before or after the expiration of the primary term of the lease, the lease shall nevertheless continue in full force and effect if the lessee shall, within six months after the cessation of production or within such longer period of time as the Department of State Lands may authorize, commence and thereafter prosecute with reasonable diligence drilling, deepening, repairing, redrilling or other operations for the restoration of production of oil, gas or sulfur from the leased lands. [1961 c.619 § 15]
Terms Used In Oregon Statutes 274.840
- Department: means the Department of State Lands. See Oregon Statutes 274.005
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.