Massachusetts Farmout Agreement Providing For Multiple Wells with Production Required to Earn An Assignment

State:
Multi-State
Control #:
US-OG-223
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 Multiple Wells with Production Required to Earn An Assignment
  • Preview Farmout Agreement Providing For Multiple Wells with Production Required to Earn An Assignment
  • Preview Farmout Agreement Providing For Multiple Wells with Production Required to Earn An Assignment
  • Preview Farmout Agreement Providing For Multiple Wells with Production Required to Earn An Assignment
  • Preview Farmout Agreement Providing For Multiple Wells with Production Required to Earn An Assignment
  • Preview Farmout Agreement Providing For Multiple Wells with Production Required to Earn An Assignment
  • Preview Farmout Agreement Providing For Multiple Wells with Production Required to Earn An Assignment
  • Preview Farmout Agreement Providing For Multiple Wells with Production Required to Earn An Assignment
  • Preview Farmout Agreement Providing For Multiple Wells with Production Required to Earn An Assignment
  • Preview Farmout Agreement Providing For Multiple Wells with Production Required to Earn An Assignment
  • Preview Farmout Agreement Providing For Multiple Wells with Production Required to Earn An Assignment

How to fill out Massachusetts Farmout Agreement Providing For Multiple Wells With Production Required To Earn An Assignment?

You are able to spend hours online looking for the lawful papers template which fits the state and federal needs you require. US Legal Forms gives a huge number of lawful varieties that are reviewed by pros. You can easily down load or produce the Massachusetts Farmout Agreement Providing For Multiple Wells with Production Required to Earn An Assignment from my service.

If you already have a US Legal Forms bank account, you can log in and click the Acquire button. After that, you can full, modify, produce, or indication the Massachusetts Farmout Agreement Providing For Multiple Wells with Production Required to Earn An Assignment. Each and every lawful papers template you buy is the one you have forever. To get yet another backup of the bought kind, visit the My Forms tab and click the corresponding button.

If you are using the US Legal Forms website the very first time, adhere to the easy instructions under:

  • First, ensure that you have selected the proper papers template for your county/metropolis of your choice. Read the kind explanation to ensure you have selected the appropriate kind. If available, take advantage of the Preview button to appear from the papers template as well.
  • If you wish to discover yet another variation of your kind, take advantage of the Research area to obtain the template that meets your needs and needs.
  • Once you have identified the template you need, click Get now to proceed.
  • Choose the rates program you need, type in your qualifications, and register for a merchant account on US Legal Forms.
  • Full the deal. You should use your charge card or PayPal bank account to pay for the lawful kind.
  • Choose the file format of your papers and down load it to your device.
  • Make modifications to your papers if possible. You are able to full, modify and indication and produce Massachusetts Farmout Agreement Providing For Multiple Wells with Production Required to Earn An Assignment.

Acquire and produce a huge number of papers templates while using US Legal Forms web site, which offers the most important assortment of lawful varieties. Use specialist and status-particular templates to take on your small business or individual needs.

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.

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 ...

The point at which all costs of leasing, exploring, drilling and operating have been recovered from production of a well or wells as defined by contractual agreement.

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.

The assignor of the interest usually reserves a specified overriding royalty interest, with the option to convert the overriding royalty interest to a specified working interest upon payout of drilling and production expenses, otherwise known as a back-in after payout (BIAPO).

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.

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

Massachusetts Farmout Agreement Providing For Multiple Wells with Production Required to Earn An Assignment