57-201 Oil, gas, and mineral leases; forfeiture; duty of lessee to surrender. - Nebraska Statutes

57-201. Oil, gas, and mineral leases; forfeiture; duty of lessee to surrender.When any oil, gas, or other mineral lease heretofore or hereafter given on land situated in any county of Nebraska, and recorded therein, shall become forfeited, it shall be the duty of the lessee, his successors or assigns, within thirty days after the date of the forfeiture, to have such lease surrendered in writing, such surrender to be signed and acknowledged by the party making the same and placed on record in the county where the leased land is situated without cost to the owner thereof. SourceLaws 1925, c. 133, § 1, p. 349; C.S.1929, § 57-201; R.S.1943, § 57-201; Laws 1955, c. 214, § 1, p. 600. AnnotationsStatute outlines steps to terminate lease. Long v. Magnolia Petroleum Co., 166 Neb. 410, 89 N.W.2d 245 (1958).Failure to drill or pay rentals makes statute operative on recorded leases. Valentine Oil Co. v. Powers, 157 Neb. 87, 59 N.W.2d 160 (1953).