Oregon Amendment to Oil and Gas Lease to Correct Land Description

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Multi-State
Control #:
US-OG-083
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Description

If the description of lands contained in a lease is incorrect, rather than entering into a new lease, the existing lease may be amended, with the amendment providing the correct description of lands the lessor and lessee intended to be covered by the lease. This form addresses that situation.

The Oregon Amendment to Oil and Gas Lease to Correct Land Description is a legal document that is utilized when there is a need to make corrections or changes to the land description section of an existing oil and gas lease agreement in the state of Oregon. This amendment ensures that the lease accurately reflects the precise and updated details of the land being leased for oil and gas exploration and extraction purposes. Keywords: Oregon, Amendment, Oil and Gas Lease, Correct, Land Description, legal document, corrections, changes, lease agreement, exploration, extraction. Types of Oregon Amendment to Oil and Gas Lease to Correct Land Description: 1. Correcting Typographical Errors: This type of amendment is used when there are minor typographical errors, such as misspellings or incorrect formatting, in the land description section of the existing lease. These errors can be rectified by submitting an amendment to accurately reflect the intended details of the leased land. 2. Updating Boundary Information: If there have been changes in the legal boundaries or survey data of the leased land, an amendment is necessary to ensure the oil and gas lease reflects the current and accurate land description. This type of Oregon Amendment to Oil and Gas Lease to Correct Land Description would provide the updated boundary information and any necessary supporting documentation. 3. Adding or Removing Parcels: In some cases, there might be a need to add or remove parcels of land from the existing oil and gas lease. This type of amendment ensures that the land description section reflects the specific parcels being added or removed, along with relevant legal descriptions or surveys. 4. Correcting Legal Descriptions: If there are errors or discrepancies in the legal descriptions of the leased land, an amendment is required to correct and update this information. This type of amendment would include the accurate legal descriptions and any supporting documents validating the correct information. 5. Modifying Acreage Information: Occasionally, there may be a need to modify the acreage information in the original oil and gas lease due to a variety of reasons, such as a change in survey data or the discovery of additional land. This type of amendment ensures that the land description section accurately reflects the revised acreage details of the leased land. In summary, the Oregon Amendment to Oil and Gas Lease to Correct Land Description is a legal document used to make corrections or updates to the land description section of an existing lease agreement. It allows for precision and accuracy in reflecting the specific details of the leased land, ensuring compliance and clarity in oil and gas exploration and extraction activities.

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FAQ

What is the granting clause? The granting clause is the clause under which the owner of the oil and gas rights leases the oil and gas rights to the oil and gas company along with the right to develop the oil and gas on a specifically described piece of real estate.

The primary term is the initial period during which a well may be drilled. If a successful well is drilled within the primary term, the lease will extend for as long as the well remains productive. If a well is not drilled within the primary term, the lease will usually expire.

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.

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.

: a deed by which a landowner authorizes exploration for and production of oil and gas on his land usually in consideration of a royalty.

Is there more than one type of oil and gas lease? Yes, there are three types: a surface use lease, a non-surface use lease, and a dual purpose lease.

- Lessor -The owner of the minerals that grants the lease. - Lessee -The oil and gas developer that takes the lease. - Primary Term-Length of time the Lessee has to establish production by drilling a well on the lands subject to the lease. Generally, primary terms run from one to ten years.

Oil leases are agreements between an oil and gas company known as the lessee and mineral owners known as a lessor, in which the lessor grants the lessee the permission to explore, drill, and produce those minerals for a specified period known as a primary term or as long as the minerals continue to be productive.

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Oregon Amendment to Oil and Gas Lease to Correct Land Description