A Mississippi Conveyance of Right to Make Free Use of Gas Provided For in an Oil and Gas Lease is a legal document that grants specific rights to the lessee regarding the use of gas found or produced on the leased property. This conveyance is a critical component of oil and gas leases in Mississippi, ensuring that both parties involved understand and agree upon the terms of gas utilization. In a Mississippi Conveyance of Right to Make Free Use of Gas Provided For in an Oil and Gas Lease, there are different types that can be identified and categorized based on the specific terms and conditions they outline. Here are three key types of conveyances: 1. Absolute Conveyance: An absolute conveyance entitles the lessee to complete and unrestricted use of the leased gas. This type of conveyance grants the lessee "free use" of the gas, allowing them to utilize it for various purposes such as commercial use, industrial purposes, or even for personal consumption. The lessor relinquishes all rights to the gas, enabling the lessee to extract and utilize it without limitations. 2. Limited Use Conveyance: In contrast to an absolute conveyance, a limited use conveyance imposes certain restrictions on how the lessee can utilize the gas. These restrictions can relate to the volume or purposes of gas usage. For instance, the lessee may be allowed to use the gas solely for residential heating or restricted to a specific volume of gas per annum. This type of conveyance gives the lessee some control over the gas usage while still providing certain limitations set by the lessor or local regulations. 3. Royalty Interest Conveyance: A royalty interest conveyance is a type of conveyance that grants the lessor a percentage of any proceeds derived from the sale of gas extracted from the leased property. In this scenario, the lessee has the right to extract and utilize the gas but must compensate the lessor by sharing a portion of the profits generated from the gas sales. This conveyance often includes specific clauses detailing how the royalty interest will be calculated and distributed to the lessor. It is essential for both parties involved in an oil and gas lease agreement in Mississippi to thoroughly understand the type of conveyance being utilized. Legal experts and professionals specializing in oil and gas leases can provide guidance in drafting and interpreting these conveyances to protect the interests of both the lessor and lessee.
Mississippi Conveyance of Right to Make Free Use of Gas Provided For in An Oil and Gas Lease
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FAQ
A Pugh Clause is enforced to ensure that a lessee can be prevented from declaring all lands under an oil and gas lease as being held by production. This remains true even when production only takes place on a fraction of the property.
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 a few words, a pooling clause is written into a lease. This oil and gas clause allows the leased premises to be combined with other lands to form a single drilling unit. It's not uncommon for there to be a pool of oil or gas under numerous parcels of land.
An ?unless? clause provides that the lease terminates unless the lessee has either made the required payments or commenced drilling operations. Lessees can therefore be terminated from the lease by failure to pay the proper amount, by the due date, in the proper form, to the proper party.
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.
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.
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.
