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Louisiana Act 169 Cancellations

Category:
Louisiana Local Parish - Rapides Parish - Clerk of Court
State:
Louisiana
Control #:
LA-SKU-0792
Format:
PDF
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Description

Act 169 Cancellations Louisiana Act 169 Cancellations are the cancellation of leases and other contracts that are already in place between a mineral rights holder and an oil and gas company. This cancellation is allowed under Louisiana state law when certain specified conditions are met. Generally, the conditions include an inability to obtain the necessary permits or approvals, an inability to produce a minimum amount of oil or gas, or when the lease or contract is no longer economically viable. There are two types of Louisiana Act 169 Cancellations: voluntary and involuntary. Voluntary cancellations occur when the mineral rights holder and the oil and gas company mutually agree to terminate their lease or contract. Involuntary cancellations occur when the mineral rights' holder requests the cancellation of the lease or contract without the agreement of the oil and gas company.

Louisiana Act 169 Cancellations are the cancellation of leases and other contracts that are already in place between a mineral rights holder and an oil and gas company. This cancellation is allowed under Louisiana state law when certain specified conditions are met. Generally, the conditions include an inability to obtain the necessary permits or approvals, an inability to produce a minimum amount of oil or gas, or when the lease or contract is no longer economically viable. There are two types of Louisiana Act 169 Cancellations: voluntary and involuntary. Voluntary cancellations occur when the mineral rights holder and the oil and gas company mutually agree to terminate their lease or contract. Involuntary cancellations occur when the mineral rights' holder requests the cancellation of the lease or contract without the agreement of the oil and gas company.

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