A farmout agreement is used when the "farmor" agrees to assign acreage to the "farmee" in return for the "farmee" performing specified drilling and testing obligations, with the "farmor" also reserving an interest in the acreage assigned and in the production from the wells drilled by the second company.
New Hampshire Farmout Agreement Providing For Multiple Wells with Dry Hole Earning An Assignment
Category:
State:
Multi-State
Control #:
US-OG-222
Format:
Word;
Rich Text
Instant download
Description
Free preview
How to fill out New Hampshire Farmout Agreement Providing For Multiple Wells With Dry Hole Earning An Assignment?
Choosing the right legal papers format can be a have a problem. Obviously, there are a lot of themes available on the Internet, but how can you obtain the legal form you will need? Make use of the US Legal Forms website. The support provides a large number of themes, such as the New Hampshire Farmout Agreement Providing For Multiple Wells with Dry Hole Earning An Assignment, that can be used for business and personal needs. All the kinds are checked out by experts and fulfill state and federal requirements.
When you are previously authorized, log in to the accounts and click the Acquire button to get the New Hampshire Farmout Agreement Providing For Multiple Wells with Dry Hole Earning An Assignment. Use your accounts to look from the legal kinds you might have acquired earlier. Visit the My Forms tab of your accounts and acquire an additional duplicate of your papers you will need.
When you are a new customer of US Legal Forms, listed below are simple instructions that you can follow:
- First, make certain you have chosen the right form for your personal area/area. You are able to look through the form utilizing the Preview button and look at the form outline to guarantee this is the right one for you.
- In the event the form will not fulfill your preferences, utilize the Seach area to get the appropriate form.
- When you are certain that the form would work, select the Get now button to get the form.
- Pick the pricing strategy you desire and enter in the essential information. Design your accounts and purchase your order using your PayPal accounts or Visa or Mastercard.
- Pick the data file format and download the legal papers format to the gadget.
- Full, edit and produce and sign the received New Hampshire Farmout Agreement Providing For Multiple Wells with Dry Hole Earning An Assignment.
US Legal Forms may be the largest library of legal kinds where you will find numerous papers themes. Make use of the company to download appropriately-made papers that follow express requirements.
Form popularity
FAQ
One example is where it is projected that the farmee will pay for 75% of the drilling costs, the parties may agree that upon meeting the earning barrier, the farmee will obtain a 75% interest in the acreage committed to the well, or even the entire contract area.
Back-In / Back-In Interest: a reversionary interest held by a party (generally pursuant to a Farmout, JOA, JDA, Lease or Assignment and Bill of Sale) that entitles the party to a specified share of the Working Interest once Payout occurs. The Book of Jargon®: Oil & Gas - Latham & Watkins LLP Latham & Watkins ? Upload ? Documents ? O... Latham & Watkins ? Upload ? Documents ? O... PDF
In the oil and gas context, a carried interest is a fractional oil and gas interest that is not required to pay for drilling or operational expenses for a limited time (carry period). These expenses are paid by the other working interest owners (called co-tenants) of the property. Carried Interest (Oil and Gas) (US) - Westlaw westlaw.com ? Glossary ? PracticalLaw westlaw.com ? Glossary ? PracticalLaw
out agreement, the key agreement documenting a transaction whereby a third party agrees to acquire an interest in an upstream oil and gas asset (licence or other form of concession) from one or more of the current owners in return for performing certain work obligations, such as the acquisition of seismic, the ...
Sometimes called at payout, the point after all the costs of exploring, drilling, producing, equipping, completing, and operating have been recouped from the sale of production from an oil or gas well. After Payout (US) - Westlaw Westlaw ? PracticalLaw Westlaw ? PracticalLaw
What Is a Farmout? A farmout is the assignment of part or all of an oil, natural gas, or mineral interest to a third party for development. The interest may be in any agreed-upon form, such as exploration blocks or drilling acreage.
Business process outsourcing Business process outsourcing (BPO) alleviates the burden of back-office accounting work in upstream oil and gas, allowing you and your team to focus on what matters most ? promoting company growth and profitability. Business Process Outsourcing - Oil and Gas - IFS ifs.com ? customer-success ? upstream-oil-gas ifs.com ? customer-success ? upstream-oil-gas
1. n. [Oil and Gas Business] When the election to convert the overriding royalty to working interest takes place, it is known as a back-in after payout (BIAPO).