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 Reservation of Additional Interests in Production
Category:
State:
Multi-State
Control #:
US-OG-819
Format:
Word;
Rich Text
Instant download
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FAQ
The lessee of an oil or gas lease can assign the entire lease or part of it. In other words, the lessee can sell or transfer part of the estate or the entire estate to which they have the working rights. The assignee is assigned the working interest and lease obligations, including override royalty.
§ 70-2-1?38) ? The Oil and Gas Act creates and vests authority in the New Mexico Oil Conservation Division to regulate oil and gas development throughout the state, gather well production data, handle drilling permit applications and permitting procedures, enforce state-wide rules and statutes, and ensure proper ...
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.
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 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 ...
An assignment of oil and gas lease is a contractual agreement between a landowner and an oil or gas company in which the company gains the right to explore for, develop, and produce oil and gas from the property.
Oil and gas law in the United States is the branch of law that pertains to the acquisition and ownership rights in oil and gas both under the soil before discovery and after its capture, and adjudication regarding those rights.