This form is used in the event any part to this Agreement elects not to participate in a Horizontal Exploratory Well, the non-participating party shall, on commencement of operations for the well, relinquish to the participating party one hundred percent (100%) of its rights, title, and interests in and to that portion of the Contract Area included within the Drilling Unit for the well and one hundred percent (100%) of the party’s rights, title, and interests in and to that portion of the Contract Area.
Arizona Relinquishment Provision - Horizontal Well
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Multi-State
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US-OG-718
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Word;
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How to fill out Relinquishment Provision - Horizontal Well?
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FAQ
in clause (or shutin royalty clause) traditionally allows the lessee to maintain the lease by making shutin payments on a well capable of producing oil or gas in paying quantities where the oil or gas cannot be marketed, whether due to a lack of pipeline connection or otherwise.
Shut in a well in the Oil and Gas Industry To shut in a well is to close off a well so that it stops producing. An emergency shutdown valve was installed on the wellhead to shut in the well at any time.
After all tubulars are removed and cement plugs set and tested, the wellhead is excavated around the surface casing and the casing cut off below ground level. A cap is added and the well is covered to prevent future surface exposure of the well. The area is then restored to its natural condition.
In such circumstances where a gas well has been completed but no market exists for the gas, the shut-in clause enables a lessee to keep the non-producing lease in force by the payment of the shut-in royalty.
To close a well, a special drilling rig is used to inject a thick mud at the well head to block the flow of oil and gas.
in clause (or shutin royalty clause) traditionally allows the lessee to maintain the lease by making shutin payments on a well capable of producing oil or gas in paying quantities where the oil or gas cannot be marketed, whether due to a lack of pipeline connection or otherwise.
