30 U.S.C. § 187b : US Code - Section 187B: Oil or gas leases; written relinquishment of rights; release of obligations

Search 30 U.S.C. § 187b : US Code - Section 187B: Oil or gas leases; written relinquishment of rights; release of obligations

Notwithstanding any provision to the contrary in section 187 of
this title, a lessee may at any time make and file in the
appropriate land office a written relinquishment of all rights
under any oil or gas lease issued under the authority of this
chapter or of any legal subdivision of the area included within any
such lease. Such relinquishment shall be effective as of the date
of its filing, subject to the continued obligation of the lessee
and his surety to make payment of all accrued rentals and royalties
and to place all wells on the lands to be relinquished in condition
for suspension or abandonment in accordance with the applicable
lease terms and regulations; thereupon the lessee shall be released
of all obligations thereafter accruing under said lease with
respect to the lands relinquished, but no such relinquishment shall
release such lessee, or his bond, from any liability for breach of
any obligation of the lease, other than an obligation to drill,
accrued at the date of the relinquishment.