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.
Pennsylvania Pugh Clause
Category:
State:
Multi-State
Control #:
US-OG-843
Format:
Word;
Rich Text
Instant download
Description
How to fill out Pugh Clause?
US Legal Forms - one of the greatest libraries of lawful types in the USA - gives a variety of lawful document web templates you can acquire or print out. Using the web site, you may get 1000s of types for organization and personal functions, sorted by types, states, or keywords and phrases.You will discover the most up-to-date versions of types such as the Pennsylvania Pugh Clause within minutes.
If you already have a subscription, log in and acquire Pennsylvania Pugh Clause from your US Legal Forms catalogue. The Acquire key will appear on each kind you view. You get access to all formerly delivered electronically types in the My Forms tab of your respective profile.
If you wish to use US Legal Forms the first time, listed here are basic instructions to get you started:
- Ensure you have picked out the best kind for your metropolis/county. Go through the Review key to check the form`s content. Read the kind information to ensure that you have selected the right kind.
- If the kind doesn`t suit your needs, make use of the Search area at the top of the screen to get the one who does.
- Should you be content with the form, validate your option by clicking the Purchase now key. Then, select the costs prepare you like and give your qualifications to sign up for an profile.
- Approach the transaction. Make use of your credit card or PayPal profile to finish the transaction.
- Choose the structure and acquire the form on the system.
- Make alterations. Load, modify and print out and indication the delivered electronically Pennsylvania Pugh Clause.
Every single design you put into your account does not have an expiration day and it is yours permanently. So, if you would like acquire or print out one more copy, just visit the My Forms portion and click in the kind you need.
Gain access to the Pennsylvania Pugh Clause with US Legal Forms, the most considerable catalogue of lawful document web templates. Use 1000s of expert and state-particular web templates that meet your small business or personal requirements and needs.
Form popularity
FAQ
The Pugh Clause limits the rights of the lessee to hold only particular depths or amounts of leased property in a pooled unit after the expiration of the primary term. In Texas, production from any portion of a leased tract is deemed production from the entire tract. Pugh clause negates this general rule.
Retained Acreage ? A clause that provides that a lease will continue after the expiration of the primary term as to a certain number of acres associated with each of the wells drilled under the lease.
A Vertical Pugh Clause requires the Operator to release the rights below a defined vertical depth after the primary term of your lease expires. For example, all rights 100 feet below the deepest drilled depth or 100 feet below the deepest formation penetrated.
The point of a retained-acreage provision is to be able to seek a new opportunity to lease unworked land to a different lessee, one who might do something productive with it. A Pugh clause is a negotiated provision in favor of the lessor. Pugh clauses modify pooling/unitization rights.
A clause in an oil and gas lease establishing the acreage around a producing well or pooled unit that the lessee is allowed to retain after termination of the lease if certain conditions are met. There is no standard retained-acreage clause, and these clauses vary by lease.
A phrase (usually contained in a Pugh clause in an oil & gas lease) that terminates the lease after the primary term as to all formations below a particular depth typically defined as the stratigraphic equivalent of the base of the deepest producing formation in the unit.
A Pugh Clause is enforced to ensure that a lessee can be prevented from declaring all lands under an oil and gas lease as being held by production. This remains true even when production only takes place on a fraction of the property.
A Pugh Clause is enforced to ensure that a lessee can be prevented from declaring all lands under an oil and gas lease as being held by production. This remains true even when production only takes place on a fraction of the property.
