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15-73-207. Prudent operator standard.
Arkansas Code — all titles (historical 2020) · legal_authorities
15-73-207. Prudent operator standard.
(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.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-73-207
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:15-73-207
Source file: gov.ar.code.title.15.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 7b60a410cde72ce1e946e221da59c2d117d2bb101ef88c6ed631b115c556f566
Source location: content.xml paragraph 25053
Stored source content
15-73-207. Prudent operator standard.
(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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