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Ark. Code Ann. § 15-73-207

Prudent operator standard

Acts 2009, No. 719, § 1.

(1) A mineral lessee under an oil and gas lease does not owe a fiduciary duty or a fiduciary obligation to the mineral lessor.

(2) The mineral lessee shall: Perform the covenants of the lease in good faith; and

(3) Develop and operate the leased mineral estate as a prudent operator for the mutual benefit of the mineral lessor and mineral lessee.

Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.