If a lease will expire, by its own terms, and the lessee desires to maintain the lease in effect by the payment of bonus, rather than commencing operations, and the terms of the original lease continue to be acceptable to the lessor, the parties may elect to amend the existing lease to extend the primary term, rather than entering into a new lease. This form addresses that situation.
Massachusetts Amendment to Oil and Gas Lease to Extend Primary Term
Category:
State:
Multi-State
Control #:
US-OG-084
Format:
Word;
Rich Text
Instant download
Description
How to fill out Amendment To Oil And Gas Lease To Extend Primary Term?
You can invest hours on the web looking for the legal papers format which fits the state and federal needs you want. US Legal Forms gives thousands of legal forms which can be analyzed by specialists. It is simple to acquire or print out the Massachusetts Amendment to Oil and Gas Lease to Extend Primary Term from our assistance.
If you currently have a US Legal Forms profile, you are able to log in and then click the Down load option. After that, you are able to complete, edit, print out, or sign the Massachusetts Amendment to Oil and Gas Lease to Extend Primary Term. Each legal papers format you acquire is your own property for a long time. To acquire another backup associated with a purchased type, check out the My Forms tab and then click the corresponding option.
If you work with the US Legal Forms internet site the very first time, keep to the simple instructions listed below:
- Initially, be sure that you have chosen the proper papers format for the state/town of your liking. See the type information to ensure you have picked the right type. If readily available, use the Preview option to search with the papers format also.
- If you would like discover another version of your type, use the Search discipline to discover the format that meets your requirements and needs.
- When you have identified the format you desire, click Get now to proceed.
- Pick the pricing prepare you desire, key in your references, and sign up for your account on US Legal Forms.
- Total the financial transaction. You can utilize your Visa or Mastercard or PayPal profile to fund the legal type.
- Pick the file format of your papers and acquire it to your gadget.
- Make modifications to your papers if possible. You can complete, edit and sign and print out Massachusetts Amendment to Oil and Gas Lease to Extend Primary Term.
Down load and print out thousands of papers layouts making use of the US Legal Forms site, which provides the most important collection of legal forms. Use expert and condition-distinct layouts to take on your business or individual requires.
Form popularity
FAQ
The primary term is the initial period during which a well may be drilled. If a successful well is drilled within the primary term, the lease will extend for as long as the well remains productive. If a well is not drilled within the primary term, the lease will usually expire.
What is the granting clause? The granting clause is the clause under which the owner of the oil and gas rights leases the oil and gas rights to the oil and gas company along with the right to develop the oil and gas on a specifically described piece of real estate.
in clause (or shutin royalty clause) traditionally allows the lessee to maintain the lease by making shutin payments on a well capable of producing oil or gas in paying quantities where the oil or gas cannot be marketed, whether due to a lack of pipeline connection or otherwise.
Typical granting clauses include language such as ?oil, gas, and other minerals,?2 ?oil and all gas of whatsoever nature or kind,?3 or some variation of these simplistic descriptions.
A ?special warranty? is a covenant made by the lessor to defend the lessee against encumbrances or clouds on the oil and gas title created by the lessor during his ownership of the estate. The protection offered by this warranty is therefore limited to those title defects caused or created by the lessor himself.
What is an Assignment Of Oil And Gas Lease? 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.
Negotiating an oil and gas lease will require some research upfront. If you're a landowner interested in working with an oil and gas company, you should explore their history and experience. You'll want to work with a reputable company that works in your best interests, holds a high standard, and maintains insurance.
A clause in an oil & gas lease that provides that if the leased land is later owned by separate parties, such as in a sale of part of the property, the lessee can continue to operate, develop, and treat the lease as a whole and pay royalties to each owner based on its percentage of ownership of the entire area.
