FORFEITURE; OTHER REMEDIES

(a) If a lessee fails or refuses to perform a material requirement of this subchapter or the lease, the board may, after notice to the lessee and an opportunity to be heard, declare a forfeiture of the lease or an interest in the lease. Material requirements include but are not limited to: (1) failure or refusal to pay a sum due, including penalty and interest, within 30 days after the sum becomes due; (2) failure or refusal to tender oil or gas for delivery as in-kind royalty; (3) making a false report concerning exploration, production, or royalty; (4) failure or refusal to file an assignment as required by this subchapter; (5) failure or refusal, after demand, to file or make available for inspection and copying a record or document required to be filed or made available for inspection or copying under this subchapter or rules promulgated thereunder; (6) failure or refusal, after demand, to protect the leased premises from drainage; or (7) the breach of an obligation under the lease or this subchapter. (b) Forfeiture is not the exclusive remedy. The attorney general, at the request of the board of regents, may bring suit for damages or specific performance, or both, or other remedy, at law or in equity. (c) The board, in its sole discretion, may authorize reinstatement of a forfeited lease on terms the board may determine at the time of the declaration of forfeiture.