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.
North Carolina Use of Produced Oil Or Gas by Lessor
Category:
State:
Multi-State
Control #:
US-OG-839
Format:
Word;
Rich Text
Instant download
Description
How to fill out Use Of Produced Oil Or Gas By Lessor?
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FAQ
For older wells, typically the producer had extensive rights to conduct operations on the surface, but not always as some leases are ?non-drilling? leases, which means that the producer could access the oil and gas below the land but not use that landowner's surface.
"Held by production" is a provision in an oil or natural gas property lease that allows the lessee, generally an energy company, to continue drilling activities on the property as long as it is economically producing a minimum amount of oil or gas.
Ingly, when you see the words ?Paid-Up Lease,? this normally means that you will receive an upfront bonus for which the oil and gas company does not have to do anything during the initial or primary term of the lease.
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 deed by which a landowner authorizes exploration for and production of oil and gas on his land usually in consideration of a royalty.
RELEASE: releases of property rights and/or other legal rights that the owner would otherwise be entitled to under law. RELEASE LEASE: releases of oil & gas lease rights that a person would otherwise be entitled to under law.
Landowners who sign non-development leases receive revenue with no liability and no disruption to their property. Frequently Asked Questions: If I sign a non-development lease, will there be any drilling or related activity on my property? No. All drilling activities will take place on another property.
