This form is used when Owner owns the entire leasehold estate created by Oil and Gas Leases and the Optionee desires to evaluate the Lands for oil and gas prospects by conducting seismic surveys and/or other geophysical explorations and investigations on the Lands and to obtain an option to purchase the interest of Owner in the Leases.
Georgia Seismic Option Agreement with Option to Purchase Interest in Oil and Gas Leases from Lessee
Category:
State:
Multi-State
Control #:
US-OG-239
Format:
Word;
Rich Text
Instant download
Description
Free preview
How to fill out Seismic Option Agreement With Option To Purchase Interest In Oil And Gas Leases From Lessee?
You can commit hrs on the Internet attempting to find the authorized document format that meets the state and federal needs you will need. US Legal Forms provides 1000s of authorized forms that happen to be reviewed by pros. You can easily obtain or produce the Georgia Seismic Option Agreement with Option to Purchase Interest in Oil and Gas Leases from Lessee from our support.
If you already have a US Legal Forms accounts, it is possible to log in and click the Acquire switch. Following that, it is possible to comprehensive, edit, produce, or indication the Georgia Seismic Option Agreement with Option to Purchase Interest in Oil and Gas Leases from Lessee. Each and every authorized document format you purchase is your own permanently. To acquire an additional duplicate for any obtained develop, proceed to the My Forms tab and click the related switch.
If you use the US Legal Forms web site for the first time, follow the easy directions beneath:
- Initial, ensure that you have selected the proper document format for the state/city of your liking. Look at the develop explanation to make sure you have chosen the right develop. If accessible, make use of the Preview switch to search with the document format at the same time.
- If you want to find an additional version of the develop, make use of the Research discipline to find the format that meets your requirements and needs.
- When you have identified the format you need, simply click Acquire now to continue.
- Find the costs prepare you need, type your references, and register for your account on US Legal Forms.
- Full the financial transaction. You can use your charge card or PayPal accounts to cover the authorized develop.
- Find the formatting of the document and obtain it for your gadget.
- Make alterations for your document if required. You can comprehensive, edit and indication and produce Georgia Seismic Option Agreement with Option to Purchase Interest in Oil and Gas Leases from Lessee.
Acquire and produce 1000s of document web templates utilizing the US Legal Forms web site, which provides the greatest selection of authorized forms. Use specialist and state-specific web templates to handle your organization or person requires.
Form popularity
FAQ
If the lease does not contain a cessation of production clause, the lessee may nevertheless be protected by the common law ?temporary cessation of production? doctrine. This doctrine allows the lessee to avoid lease termination by establishing that the cessation of production is only temporary.
An assignment of oil and gas lease is a contractual agreement between a landowner and an oil or gas company in which the company gains the right to explore for, develop, and produce oil and gas from the property.
What is a Held-By-Production Clause? "Held by production" is a provision in an oil or natural gas property lease that allows the lessee, generally an energy company, to continue drilling activities on the property as long as it is economically producing a minimum amount of oil or gas.
Held by production is an oil & gas industry term indicating a property is under lease and that the lease is being perpetuated in the secondary term by the production of oil or gas in paying quantities. An oil & gas may be in HBP status for many years if the wells located on the leased land keep producing.