Oregon Amendment to Oil and Gas Lease to Extend Primary Term, With No Additional Rentals

State:
Multi-State
Control #:
US-OG-343
Format:
Word; 
Rich Text
Instant download

Description

If a lease will expire, by its own terms, and the lessee desires to maintain the lease in effect by the payment of bonus, rather than commencing operations, and the terms of the original lease continue to be acceptable to the lessor, the parties may elect to amend the existing lease to extend the primary term, rather than entering into a new lease. This form addresses that situation.

Free preview
  • Preview Amendment to Oil and Gas Lease to Extend Primary Term, With No Additional Rentals
  • Preview Amendment to Oil and Gas Lease to Extend Primary Term, With No Additional Rentals

How to fill out Amendment To Oil And Gas Lease To Extend Primary Term, With No Additional Rentals?

Finding the right authorized papers format can be a have a problem. Naturally, there are a variety of themes available on the net, but how do you find the authorized kind you need? Make use of the US Legal Forms internet site. The support offers thousands of themes, including the Oregon Amendment to Oil and Gas Lease to Extend Primary Term, With No Additional Rentals, which can be used for enterprise and personal requires. All the varieties are checked by specialists and meet up with state and federal requirements.

When you are already registered, log in for your profile and then click the Acquire option to find the Oregon Amendment to Oil and Gas Lease to Extend Primary Term, With No Additional Rentals. Utilize your profile to check from the authorized varieties you have purchased in the past. Visit the My Forms tab of your profile and have another backup from the papers you need.

When you are a whole new end user of US Legal Forms, here are basic guidelines for you to comply with:

  • Initially, make sure you have chosen the proper kind for your personal area/area. It is possible to look through the form making use of the Preview option and look at the form information to make certain this is the right one for you.
  • If the kind does not meet up with your requirements, make use of the Seach industry to get the appropriate kind.
  • Once you are sure that the form is acceptable, go through the Buy now option to find the kind.
  • Choose the pricing plan you desire and enter in the necessary information and facts. Create your profile and pay for an order making use of your PayPal profile or Visa or Mastercard.
  • Select the file formatting and acquire the authorized papers format for your system.
  • Comprehensive, change and print out and sign the obtained Oregon Amendment to Oil and Gas Lease to Extend Primary Term, With No Additional Rentals.

US Legal Forms will be the most significant collection of authorized varieties in which you can see different papers themes. Make use of the company to acquire expertly-produced paperwork that comply with state requirements.

Form popularity

FAQ

What are some of the provisions that are normally found in an oil and gas lease? An oil and gas lease will normally contain the following types of provisions: a granting clause, description clause, term clause, royalty clause, pooling clause, surface-use clauses, and various miscellaneous clauses.

ASSIGNMENT: The legal instrument whereby Oil and Gas Leases or Overriding Royalty interests are assigned or conveyed. ASSIGNMENT CLAUSE: A clause in any legal instrument that allows either party to the contract to assign all or part of his or her interest to others.

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 clause in an oil & gas lease that allows the lessee to pay an amount (delay rental) to the lessor to postpone commencement of drilling operations during the primary term of the lease to keep it in effect.

'Assigning' a lease simply means transferring your lease to another person so that they become the new tenant. Once the assignment has taken place the lease continues to exist and the new tenant becomes liable for all of the tenant's obligations in the lease.

The period of time in the life of an oil & gas lease that begins after the expiration of the primary term. Production, operations, continuous drilling, or shut-in royalty payments are most often used to extend an oil & gas lease into its secondary term.

As long as the lessee pays the annual rent, the lease remains in effect. This definite period of time is called the primary term. When a company fails to start production, the lease expires after the primary term. When the company starts drilling for oil and gas, the lease will remain in effect past the primary term.

Trusted and secure by over 3 million people of the world’s leading companies

Oregon Amendment to Oil and Gas Lease to Extend Primary Term, With No Additional Rentals