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 Dakota Shut-In Gas Royalty
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State:
Multi-State
Control #:
US-OG-824
Format:
Word;
Rich Text
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How to fill out Shut-In Gas Royalty?
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FAQ
There are currently 11 frac crews operating in North Dakota, up from a low of just one during the pandemic price collapse but well below the numbers typical for today's high prices.
The number of oil and gas wells in production in North Dakota was 18,380 in August 2023, a change of +1.1 percent from the prior month and +4.2 percent from one year ago. Approximately 8 in 10 oil and gas wells are located in the four core oil and gas producing counties.
Both onshore and offshore leasing statutes require a royalty rate of at least 12.5% of the value of production.
Many owners wonder what's a ?good? oil and gas lease royalty is. It depends on several factors, but in general you should be able to lease your oil and gas mineral rights for between 17% and 25%.
A clause in an oil & gas lease that allows a lessee to keep the lease in effect past the primary term by substituting payment of shut-in royalty for actual production.
Generally, the standard royalty rates for authors is under 10% for traditional publishing and up to 70% with self-publishing.
The federal government charges oil and gas companies a royalty on hydrocarbon resources extracted from public lands. The standard Federal royalty payment was 12.5%, or a 1/8th royalty.
Overriding Royalty Interest (ORRI) The royalty rate is negotiated between the owner of the mineral rights and the company extracting the oil and gas, and can range from 12.5% to 25% of the production value. Royalties are an important source of income for landowners who have mineral rights.