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.
Mississippi Use of Produced Oil Or Gas by Lessor
Category:
State:
Multi-State
Control #:
US-OG-839
Format:
Word;
Rich Text
Instant download
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How to fill out Use Of Produced Oil Or Gas By Lessor?
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FAQ
Texas is by far the largest oil-producing state in the United States. In 2022, Texas produced a total of 1.8 billion barrels. In a distant second place is New Mexico, which produced 574.3 million barrels in the same year. Virginia is the smallest producing state in the country, at five thousand barrels.
Mississippi relies on coal for more than a third of its in-state electricity generation, and imports more than 70 percent of that coal. * ?Other? includes oil, municipal solid waste, tires, propane, or other manufactured and waste gases from fossil fuel.
- Lessor -The owner of the minerals that grants the lease. - Lessee -The oil and gas developer that takes the lease. - Primary Term-Length of time the Lessee has to establish production by drilling a well on the lands subject to the lease. Generally, primary terms run from one to ten years.
Denbury, Mississippi's largest oil producer, acquired by ExxonMobil Corp.
Per the U.S. Energy Information Administration (EIA), the total proved reserves in Mississippi are estimated at 124 million barrels of oil and 0.35 Tcf of natural gas.
A mineral lease is a contractual agreement between the owner of a mineral estate (known as the lessor), and another party such as an oil and gas company (the lessee). The lease gives an oil or gas company the right to explore for and develop the oil and gas deposits in the area described in the lease.
The BLM administers the lease but the Forest Service has more direct involvement in the leasing process for lands it administers. The Act also establishes a requirement that all public lands that are available for oil and gas leasing be offered first by competitive leasing.
Mississippi produces about 0.3% of the nation's crude oil and holds about 0.3% of U.S. total proved oil reserves. Most of Mississippi's oil fields are located in the southern half of the state.
