Nebraska Conveyance of Right to Make Free Use of Gas Provided For in an Oil and Gas Lease is a legal document that grants the right to utilize gas as specified in an oil and gas lease agreement in the state of Nebraska. This conveyance allows the holder to freely utilize the gas provided for in the lease for various purposes, such as heating, cooking, electricity generation, or any other lawful use. The Nebraska Conveyance of Right to Make Free Use of Gas Provided For in an Oil and Gas Lease serves as a vital component of oil and gas leasing transactions, safeguarding the interests of both the lessor and the lessee. It outlines the specific terms and conditions under which the lessee can exercise their free use rights pertaining to the gas granted by the lease. Keywords: 1. Nebraska: This refers to the state where the conveyance takes place, indicating the jurisdiction and legal framework within which the document operates. 2. Conveyance: This term signifies the transfer or granting of certain rights, in this case, the right to make free use of gas. 3. Free Use: This emphasizes that the right provided allows the lessee to utilize the gas without any additional charges or limitations, subject to the terms of the lease. 4. Gas: Refers to the natural resource being conveyed, likely to include methane gas obtained from oil and gas drilling or extraction. 5. Oil and Gas Lease: This highlights that the conveyance relates to an existing oil and gas lease agreement, indicating a pre-established arrangement between the lessor (landowner) and the lessee (oil and gas operator) regarding exploration and extraction activities on the property. 6. Right: This suggests the transfer of a legal entitlement to utilize the gas for specific purposes. 7. Legal Document: It indicates that the conveyance is a binding legal instrument providing rights and obligations to the involved parties. Types of Nebraska Conveyance of Right to Make Free Use of Gas Provided For in An Oil and Gas Lease: There are no explicitly mentioned different types of conveyances in this context. However, variations may exist depending on the unique terms and conditions determined in individual oil and gas lease agreements. These may include differences in the duration of the right to make free use, limitations on usage, or specific stipulations regarding the time, manner, and quantities of gas utilized under the terms of the conveyance.
Nebraska Conveyance of Right to Make Free Use of Gas Provided For in An Oil and Gas Lease
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1. n. [Geology, Shale Gas] The gaseous phase present in a reservoir or other contained area.
An oil or gas lease is a legal document where a landowner grants an individual or company the right to extract oil or gas from beneath the landowner's property. Courts generally find leases to be legally binding, so it is very important that you understand all the terms of a lease before you sign it.
The primary term on average is 3 years. Companies can add a 2-year extension if they wish. The company that executed the lease uses this time period to achieve drilling the well. Once that is completed, the secondary term begins and lasts for as long as the well is producing.
After Payout (APO): The point at which a well's revenues surpass the costs to drill, complete and operate. 4. Base Royalty: the royalty reserved by the owner of the leasing rights upon execution of an oil and gas lease. This is the royalty amount (percentage) stated on the lease document itself.
Many oil and gas leases contain what is commonly known as a ?free gas? clause. Such clauses typically entitle the landowner to ?use? 250,000 to 400,000 cubic feet of gas per year from any wells developed on their property.
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 ECA is a surcharge on all customers' bills that recovers costs incurred by the Company to generate electricity, including the cost of fuel for our natural gas plants, power purchased on the open market and some costs associated with renewable energy production.
1. n. [Geology, Shale Gas] The gaseous phase present in a reservoir or other contained area. Gas may be found either dissolved in reservoir fluids or as free gas that tends to form a gas cap beneath the top seal on the reservoir trap.
The point at which all costs of leasing, exploring, drilling and operating have been recovered from production of a well or wells as defined by contractual agreement.
Alternative to Fracking. It turns out there is. Hypersolar is a small startup that is developing a nanotechnology solution to produce hydrogen and natural gas from the combination of sunlight, water, and CO2. The key piece of this technology is the ability to use waste water instead of purified water.
