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.
South Carolina Shut-In Gas Royalty
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Multi-State
Control #:
US-OG-824
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Word;
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FAQ
Both onshore and offshore leasing statutes require a royalty rate of at least 12.5% of the value of production.
A clause in an oil & gas lease that allows a lessee to keep the lease in effect past the primary term by substituting payment of shut-in royalty for actual production.
An example of a Surface Area Pugh Clause: ?Production from or operations on a pooled unit or units including a portion or portions of the leased premises will maintain this Lease in force only as to the acreage included in the unit or units.
A clause in an oil & gas lease that provides that if the leased land is later owned by separate parties, such as in a sale of part of the property, the lessee can continue to operate, develop, and treat the lease as a whole and pay royalties to each owner based on its percentage of ownership of the entire area.
For example, if a lease is held by one well that ceases to produce and the lease contains a shut-in clause that requires payment within 90 days after shut-in and a cessation of production clause that allows a 60 day cessation before termination, the lessee must pay the shut-in royalty within the 60 day period or the ...
Royalty Payment Clauses A royalty is agreed upon as a percentage of the lease, minus what was reasonably used in the lessee's production costs. This is stipulated in a Royalty Clause. The royalty is paid by the lessee to the owner of the mineral rights, the lessor in the lease.