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.
New Mexico Plugging Requirements
Category:
State:
Multi-State
Control #:
US-OG-813
Format:
Word;
Rich Text
Instant download
Description
How to fill out Plugging Requirements?
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FAQ
Except for the incentive programs described in the following table, the tax rate is 3.75% of taxable value which is defined to exclude royalties paid to federal, state or tribal governments and reasonable expense oftrucking any product from the production unit to the first place of market.
The depth of New Mexico water wells varies as per the area's elevation. If you live in an area at a lower elevation in the state, you will find water at a depth of approximately 200 feet. At higher elevations, water is usually found below 1000 feet.
25.3 STATUTORY AUTHORITY: 19.15. 25 NMAC is adopted pursuant to the Oil and Gas Act, Section 70-2-12 NMSA 1978, which authorizes the division to require dry or abandoned wells to be plugged so as to confine oil, gas or water in the strata in which they are found and to prevent them from escaping into other strata.
In 2022, over 48% of New Mexico's state budget was supported by the oil and natural gas industry, translating into funding for schools, building roads and strengthening our communities.In 2021, The Land of Enchantment received over $327 million dollars in conservation funding from the Land and Water Conservation Fund, ...
It is unlawful to drill a water well without a well driller's license. A list of licensed well drillers is available on the Office of the State Engineer web site .ose.state.nm.us and at each district office. The Office of the State Engineer can not recommend either for or against any particular driller.
The oil and gas proceeds derived from the sale of production from any well producing oil, gas or related hydrocarbons in New Mexico shall be paid to all persons legally entitled to such payments, commencing not later than six months after the first day of the month following the date of first sale and thereafter not ...
The New Mexico Oil and Gas Justice and Reform Act Reforms the Basic Framework of the 1935 Oil and Gas Act to: Expand the duties and authorities of the Oil Conservation Commission (OCC) and Oil Conservation Division (OCD) to include: Protection of the environment, Protection of public health, and.
The Oil Conservation Division of the Energy, Minerals and Natural Resources Department regulates oil, gas, and geother- mal activity in New Mexico, including issuing well permits, ensuring abandoned wells are plugged and the land restored, and enforcing regulations and laws.
