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.
Pennsylvania Amendment to Oil and Gas Lease to Extend Primary Term
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Multi-State
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US-OG-084
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FAQ
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.
Act 13 provides for enhanced environmental protections for the development of unconventional wells and for the collection and imposition of an impact fee for the development of unconventional wells. Operators of conventional gas wells are not subject to the impact fee provisions contained in Act 13.
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.
There are two terms in a gas and oil lease: known as the primary term and the secondary term. Normally, the primary term is for a specific amount of time which lasts between the period of 1, 3, 5, 7 or 10 years.
The primary term on average is 3 years. Companies can add a 2-year extension if they wish. The company that executed the lease uses this time period to achieve drilling the well. Once that is completed, the secondary term begins and lasts for as long as the well is producing.
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.
Act 13 and Beyond: School Leaders Driving Instructional Excellence is designed to underscore the importance of the supervision and evaluation model for elevating classroom instruction and building faculty capacity. This course satisfies the Act 13 requirements for new Assistant/Vice Principals and Principals.
Act 13 of 2012 is a comprehensive law that affects Oil and Gas Operations in the state. Major Functions: Collects an impact fee on all unconventional wells drilled in the state. Creates the Natural Gas Development Program to increase the use of natural gas for transportation.
Act 13/Impact Fee specifically provides for the imposition of an unconventional well fee by county (or alternatively municipalities compelling the imposition of an unconventional well fee).
In Pennsylvania, state law allows drilling up to 500 feet from a home. Across the commonwealth, nearly 1.5 million people live within a half mile of active oil and gas wells, compressors or processing stations.
