Alaska Salt Water Disposal Lease and Agreement Using Existing Well Bore
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FAQ
These basic lease terms ? bonus, royalty, term, delay rental (if any) and shut-in royalty --are typically the "deal terms" negotiated between the Lessor and Lessee. The Lessor typically wants the highest bonus, delay rental and royalty fraction he can get, and the shortest primary term. The Lessee wants the opposite.
A mineral lease is a contractual agreement between the owner of a mineral estate (known as the lessor), and another party such as an oil and gas company (the lessee). The lease gives an oil or gas company the right to explore for and develop the oil and gas deposits in the area described in the lease.
Ingly, when you see the words ?Paid-Up Lease,? this normally means that you will receive an upfront bonus for which the oil and gas company does not have to do anything during the initial or primary term of the lease.
An oil and gas lease is a legal contract between a land owner and oil company that gives the right to explore for oil or natural gas on a piece of land. The agreement outlines the terms and conditions between the two parties, typically including the rights and obligations, fees, length of contract, and more. Oil And Gas Lease: Definition & Sample - Contracts Counsel contractscounsel.com ? oil-and-gas-lease contractscounsel.com ? oil-and-gas-lease
Most likely, if you own land in Alaska, the state of Alaska owns what lies beneath. These ?subsurface rights? are dominant over your rights as a surface landowner and you cannot deny reasonable access to the state's resources, which could include anything from precious metals to oil and gas. Knowing Your Surface Rights - Denali Citizens Council denalicitizens.org ? uploads ? 2011/04 ? Att... denalicitizens.org ? uploads ? 2011/04 ? Att...
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.