Massachusetts Relinquishment Provision - All offset Wells

State:
Multi-State
Control #:
US-OG-716
Format:
Word; 
Rich Text
Instant download

Description

This clause addresses the responsibilites in the event any Party elects not to participate in the drilling of a well and provides for the relinquishment of interest and assignments by that party.

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FAQ

An offset well is an existing wellbore that may be used as a guide for planning a well. Many offsets could be referred to in the planning of a well, to identify subsurface geology and pressures. Offset well data may be combined with seismic data and prior experience.

An oil or gas well drilled on a tract of land designed in theory to prevent actual or potential drainage of oil or gas from a well located on an adjacent tract of land.

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Massachusetts Relinquishment Provision - All offset Wells