Petroleum title surrender or expiry
All titles are granted for a certain period of time under the Petroleum Act or the Petroleum (Submerged Lands) Act.
You can decide to surrender all or part of a petroleum title at any time after grant.
You must apply in writing to the department. The letter must be signed by the appropriate people. You do not need to give a reason to surrender the title.
The department will check and either accept or refuse it. If it is accepted you will be sent a letter confirming the date the title was surrendered and any requirements that you must complete.
You must complete a report on surrender. Read more about petroleum title reporting.
You must pay a fee when you surrender a petroleum title. Read more about fees and rents.
A petroleum title expires when the titleholder chooses not to renew their title at the end of the current granted period.