Louisiana Revised Statutes 31:114 – Nature of mineral lease; creation on noncontiguous tracts; effect of unit operations
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Terms Used In Louisiana Revised Statutes 31:114
- Contract: A legal written agreement that becomes binding when signed.
- 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
A mineral lease is a contract by which the lessee is granted the right to explore for and produce minerals. A single lease may be created on two or more noncontiguous tracts of land. Operations on or production from the land burdened by the lease or land unitized therewith sufficient to maintain the lease according to its terms will continue the lease in force as to the entirety of the land burdened.
Acts 1974, No. 50, §114, eff. Jan. 1, 1975, Acts 2023, No. 88, §1.