Kentucky Farmout Agreement Providing For Single Well, with Dry Hole Earning An Assignment

State:
Multi-State
Control #:
US-OG-221
Format:
Word; 
Rich Text
Instant download

Description

A farmout agreement is used when the "farmor" agrees to assign acreage to the "farmee" in return for the "farmee" performing specified drilling and testing obligations, with the "farmor" also reserving an interest in the acreage assigned and in the production from the wells drilled by the second company.


Free preview
  • Preview Farmout Agreement Providing For Single Well, with Dry Hole Earning An Assignment
  • Preview Farmout Agreement Providing For Single Well, with Dry Hole Earning An Assignment
  • Preview Farmout Agreement Providing For Single Well, with Dry Hole Earning An Assignment
  • Preview Farmout Agreement Providing For Single Well, with Dry Hole Earning An Assignment
  • Preview Farmout Agreement Providing For Single Well, with Dry Hole Earning An Assignment
  • Preview Farmout Agreement Providing For Single Well, with Dry Hole Earning An Assignment
  • Preview Farmout Agreement Providing For Single Well, with Dry Hole Earning An Assignment
  • Preview Farmout Agreement Providing For Single Well, with Dry Hole Earning An Assignment
  • Preview Farmout Agreement Providing For Single Well, with Dry Hole Earning An Assignment
  • Preview Farmout Agreement Providing For Single Well, with Dry Hole Earning An Assignment
  • Preview Farmout Agreement Providing For Single Well, with Dry Hole Earning An Assignment

How to fill out Farmout Agreement Providing For Single Well, With Dry Hole Earning An Assignment?

Choosing the best legal file format might be a have a problem. Of course, there are a variety of web templates available online, but how would you get the legal kind you will need? Utilize the US Legal Forms internet site. The assistance delivers thousands of web templates, like the Kentucky Farmout Agreement Providing For Single Well, with Dry Hole Earning An Assignment, which you can use for enterprise and private demands. Every one of the types are checked by pros and meet up with federal and state specifications.

In case you are already signed up, log in to the bank account and click on the Obtain button to get the Kentucky Farmout Agreement Providing For Single Well, with Dry Hole Earning An Assignment. Utilize your bank account to look with the legal types you have purchased in the past. Proceed to the My Forms tab of your own bank account and have yet another duplicate of the file you will need.

In case you are a whole new customer of US Legal Forms, listed below are simple instructions that you can adhere to:

  • Very first, be sure you have chosen the appropriate kind to your town/county. You can examine the form utilizing the Preview button and read the form outline to make sure this is basically the best for you.
  • In case the kind fails to meet up with your preferences, take advantage of the Seach area to find the correct kind.
  • Once you are positive that the form is suitable, click the Acquire now button to get the kind.
  • Choose the pricing strategy you need and enter in the essential information. Design your bank account and pay for the order using your PayPal bank account or charge card.
  • Pick the submit format and acquire the legal file format to the device.
  • Total, edit and produce and sign the received Kentucky Farmout Agreement Providing For Single Well, with Dry Hole Earning An Assignment.

US Legal Forms will be the greatest catalogue of legal types for which you will find a variety of file web templates. Utilize the company to acquire skillfully-created documents that adhere to status specifications.

Form popularity

FAQ

A farmout is when a resource-producing property is outsourced for development to a third party or farmee. The farmee pays the owner (farmor) royalties on income generated from the outsourced activities. Farmouts are most common in natural resources exploration and extraction, such as with oil, gas, or minerals mining.

A farmout is when a resource-producing property is outsourced for development to a third party or farmee. The farmee pays the owner (farmor) royalties on income generated from the outsourced activities. Farmouts are most common in natural resources exploration and extraction, such as with oil, gas, or minerals mining.

A farm out is a type of agreement where a party that has a working interest to a gas and oil lease will grant that interest to another party. The other party will then be contractually obligated to meet specific conditions, such as setting up a drill in a specific location, drilling to an agreed upon depth, etc.

While the first is the entry of companies into O&G exploration, the farm-out takes place when a business with the current concession is willing to give up part or all of its available area. Making a simpler analogy about the process, the farm-in is the buyer and the farm-out is the seller.

One example is where it is projected that the farmee will pay for 75% of the drilling costs, the parties may agree that upon meeting the earning barrier, the farmee will obtain a 75% interest in the acreage committed to the well, or even the entire contract area.

out agreement, the key agreement documenting a transaction whereby a third party agrees to acquire an interest in an upstream oil and gas asset (licence or other form of concession) from one or more of the current owners in return for performing certain work obligations, such as the acquisition of seismic, the ...

Also known as a farm-in agreement. A type of contract through which an investor (a farmee) may acquire an interest in an upstream project from an existing project participant (a farmor). It is typically used in the exploration or development stage of a project.

Trusted and secure by over 3 million people of the world’s leading companies

Kentucky Farmout Agreement Providing For Single Well, with Dry Hole Earning An Assignment