This lease rider form may be used when you are involved in a lease transaction, and have made the decision to utilize the form of Oil and Gas Lease presented to you by the Lessee, and you want to include additional provisions to that Lease form to address specific concerns you may have, or place limitations on the rights granted the Lessee in the standard lease form.
Indiana Shut-In Oil Royalty
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Multi-State
Control #:
US-OG-825
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Word;
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How to fill out Shut-In Oil Royalty?
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FAQ
A clause in an oil & gas lease that allows a lessee to keep the lease in effect past the primary term by substituting payment of shut-in royalty for actual production.
Royalty interest in the oil and gas industry refers to ownership of a portion of a resource or the revenue it produces. A company or person that owns a royalty interest does not bear any operational costs needed to produce the resource, yet they still own a portion of the resource or revenue it produces.
A clause in an oil & gas lease that allows a lessee to keep the lease in effect past the primary term by substituting payment of shut-in royalty for actual production.
They generally range from 12?25 percent. Before negotiating royalty payments on private land, careful due diligence should be conducted to confirm ownership.
The royalty percentage is usually 12.5% to 15% but can change based on regional regulations or negotiations. Types of Leases: There are different types of oil and gas leases, and they affect royalty calculations differently.
A Mineral Owner, is an individual who is entitled to receive monthly or annual royalty income from operators producing crude oil, natural gas because they actually own the mineral property, not to be confused with the "Surface" property.
Royalty Payment Clauses A royalty is agreed upon as a percentage of the lease, minus what was reasonably used in the lessee's production costs. This is stipulated in a Royalty Clause. The royalty is paid by the lessee to the owner of the mineral rights, the lessor in the lease.
The Indiana Dormant Mineral Interest Act" was passed by the Indiana Legislature in 1971. The Act provides that severed mineral interests would automatically revert to the current surface owner of the land unless one of the following conditions was met: 1. Sufficient "use" of the mineral interest by the owner.
