Guam Affidavit of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment serves as a legal document declaring the cessation of production activities and the plugging of a well in Guam, a U.S. territory located in the western Pacific Ocean. This affidavit is crucial for companies involved in oil and gas exploration and extraction, ensuring compliance with regulations governing the industry. The Guam Affidavit of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment includes comprehensive information such as the well identification number, lease details, operator's information, and the date on which production ceased and the well was plugged. The timely submission of this affidavit secures a clear understanding of royalty payment obligations. In Guam, there are various types of Guam Affidavit of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment, including: 1. Oil Well Affidavit of Cessation and Plugging: This affidavit specifically pertains to oil wells that have ceased production and require proper plugging as per industry standards. It outlines the last royalty payment date, concluding the financial obligations related to the well. 2. Gas Well Affidavit of Cessation and Plugging: Designed for gas wells, this affidavit serves a similar purpose to the oil well affidavit. It verifies the cessation of gas production and ensures the well is safely plugged, providing accurate information about the last royalty payment given for that particular well. 3. Offshore Well Affidavit of Cessation and Plugging: This type of affidavit focuses on wells located in offshore waters surrounding Guam. It confirms the cessation of production and plugging of such wells, adhering to specific regulations governing offshore drilling. Submitting the Guam Affidavit of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment is essential to maintain compliance with regulatory bodies, as it enables accurate record-keeping, royalty auditing, and ensures proper closure of wells. Failure to file this affidavit may result in penalties and legal consequences. By properly completing this affidavit and providing the necessary information, companies demonstrate responsible resource management and their commitment to environmental sustainability. Guam authorities rely on such documents to monitor and regulate the oil and gas industry, ensuring the protection of Guam's natural resources and the preservation of its unique marine ecosystem.
Guam Affidavit of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment
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How to fill out Guam Affidavit Of Cessation Of Production And Plugging Of Well Specifying Date Of Last Royalty Payment?
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