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.
Louisiana Survey of Lands included in Producing Or Proration Units
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Multi-State
Control #:
US-OG-831
Format:
Word;
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Description
How to fill out Survey Of Lands Included In Producing Or Proration Units?
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FAQ
What is a Lease Operating Expense? Lease operating expenses, refers to the recurring costs of operating the wells and equipment. They are also known as LOEs, the term ?LOE? is frequently used in the oil and gas business to talk about costs associated with a given well or lease.
Total operated basis: The total reserves or production associated with the wells operated by an individual operator. This is also commonly known as the "gross operated" or "8/8ths" basis.
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.
Acreage: a general term most commonly used to describe and identify the Lands subject to an Oil and Gas Lease. Acreage is used as a measure of the amount of land that is the subject of an agreement or proposed transaction. An acre is equal to 43,560 square feet.
