Alaska Ratification of Oil and Gas Lease (To Permit Pooling/Unitization)

State:
Multi-State
Control #:
US-OG-1100
Format:
Word; 
Rich Text
Instant download

Description

This form is a ratification of an oil and gas lease to permit pooling/unitization.

How to fill out Ratification Of Oil And Gas Lease (To Permit Pooling/Unitization)?

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FAQ

To ?ratify? a lease means that the landowner and oil & gas producer, as current lessor and lessee of the land, agree (or re-agree) to the terms of the existing lease.

An agreement ratifying and confirming a lease executed by a concurrent owner other than the original lessor or conduct by such person which by implication ratifies and confirms the lease.

The BLM issues a competitive lease for a 10-year period. BLM State Offices conduct lease sales quarterly when parcels are eligible and available for lease. Each State Office publishes a Notice of Competitive Lease Sale (Sale Notice), which lists parcels to be offered at the auction, usually 45 days before the auction.

: a deed by which a landowner authorizes exploration for and production of oil and gas on his land usually in consideration of a royalty.

A ratification of an existing Texas oil and gas lease usually executed by a non-participating royalty interest owner or a non-executive mineral interest owner. It can be used for transactions involving business entities or private individuals.

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Alaska Ratification of Oil and Gas Lease (To Permit Pooling/Unitization)