New Mexico Reservation of Additional Interests in Production

State:
Multi-State
Control #:
US-OG-819
Format:
Word; 
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Description

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.

The New Mexico Reservation of Additional Interests in Production is a legal provision that allows the state of New Mexico to retain certain interests or rights in the production of natural resources within its jurisdiction. This reservation applies to various industries, primarily oil and gas, and aims to ensure the state's participation and economic benefits from resource extraction activities. It is crucial to understand the different types of reservations under the New Mexico Reservation of Additional Interests in Production: 1. Mineral Interest Reservation: This type of reservation grants the state of New Mexico ownership rights to a certain percentage of minerals extracted from designated lands within its boundaries. The state can lease these mineral rights to private companies for resource extraction while retaining a share of the production value. 2. Royalty Interest Reservation: This reservation refers to the state's entitlement to a portion of the revenues generated from the production of natural resources. New Mexico may reserve a royalty interest, which is typically a percentage of the production value, ensuring ongoing financial benefits from the extractive operations. 3. Surface Use Interest Reservation: In some cases, the state may reserve certain surface use rights when granting permits for resource extraction. This reservation allows New Mexico to exercise control over surface activities and mitigate potential environmental or societal impacts caused by industrial operations. 4. Conservation Interest Reservation: New Mexico may also reserve conservation interests to protect vital ecosystems, cultural heritage sites, or endangered species habitats. This reservation ensures that resource extraction activities do not harm vital natural resources and allows the state to maintain ecological balance. These different types of reservations serve as mechanisms for the state to balance economic development with environmental stewardship and sociocultural preservation. By retaining interests in production, New Mexico can regulate resource extraction activities, promote responsible and sustainable practices, and secure long-term benefits for its citizens. Overall, the New Mexico Reservation of Additional Interests in Production signifies the state's commitment to managing and benefiting from the exploitation of its valuable natural resources. Through various types of reservations, New Mexico can exercise control, generate revenue, and protect its environment and cultural heritage simultaneously.

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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.

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How to fill out Reservation Of Additional Interests In Production? When it comes to drafting a legal document, it's easier to delegate it to the professionals. If one company buys out the interests of another company, and it is not a name change or merger, you must file record title assignments and/or transfers of ...No reservations, percentages or depth restrictions are permissible in a record title assignment. Please complete the mailing address of the assignee, as lease ... Dec 1, 2022 — OCD REPORTS: The producer or lessee of producing state lands shall file in the New Mexico state land office, Santa Fe, New Mexico, at the ... The New Mexico Association of Counties provides a listing of county offices and courthouses. ... How do I locate, file and/or maintain a mining claim? Before you ... Aug 21, 2023 — Assignor's reserved overriding royalty interest shall not bear any costs related to drilling, completing, equipping and operating, but such ... Nov 5, 2019 — ... reservations in deeds purporting to cover 100% interest in the premises. Under this rule the grantor is said to be estopped to deny the ... This information is a general explanation of the gross receipts and compensating tax laws and is presented as a service to taxpayers. My very first experience with a project running parallel title chains on government leases in. New Mexico required spending considerable time satisfying an. A grant or reservation of a mineral right or interest found in a chain of title must be specifically excepted from the legal description of the subject property ...

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New Mexico Reservation of Additional Interests in Production