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Current as of January 02, 2025 | Updated by Findlaw Staff
A lease which is in its extended term because of production in paying quantities shall not terminate upon cessation of production if, within 60 days thereafter, reworking or drilling operations on the leasehold are commenced and are thereafter conducted with reasonable diligence during the period of nonproduction. The 60–day period commences upon receipt of notification from the authorized officer that the lease is not capable of production in paying quantities.
Cite this article: FindLaw.com - Code of Federal Regulations Title 43. Public Lands: Interior § 43.3107.2–2 Cessation of production - last updated January 02, 2025 | https://codes.findlaw.com/cfr/title-43-public-lands-interior/cfr-sect-43-3107-2-2/
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