South Dakota Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term

State:
Multi-State
Control #:
US-OG-187
Format:
Word; 
Rich Text
Instant download

Description

An affidavit is statement of facts which is sworn to (or affirmed) before an officer who has authority to administer an oath (e.g. a notary public). This Affidavit is made for the purpose of giving notice that the Lease has been extended beyond its stated primary term in accordance with the terms of the Lease.

How to fill out Affidavit Of Production To Extend Oil And Gas Lease Beyond Primary Term?

You may devote hrs online trying to find the authorized file design that suits the federal and state demands you require. US Legal Forms gives a large number of authorized types that are evaluated by professionals. You can easily download or print out the South Dakota Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term from the assistance.

If you already have a US Legal Forms accounts, you are able to log in and then click the Obtain switch. After that, you are able to complete, change, print out, or signal the South Dakota Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term. Each and every authorized file design you get is your own eternally. To have one more backup of the purchased develop, go to the My Forms tab and then click the corresponding switch.

Should you use the US Legal Forms site the first time, follow the easy guidelines under:

  • Very first, be sure that you have selected the correct file design to the area/metropolis of your choice. See the develop information to ensure you have selected the correct develop. If accessible, take advantage of the Preview switch to search through the file design as well.
  • If you want to discover one more model from the develop, take advantage of the Research discipline to find the design that meets your needs and demands.
  • Upon having located the design you would like, just click Purchase now to proceed.
  • Find the pricing prepare you would like, enter your qualifications, and sign up for an account on US Legal Forms.
  • Comprehensive the financial transaction. You may use your charge card or PayPal accounts to fund the authorized develop.
  • Find the file format from the file and download it to your device.
  • Make changes to your file if required. You may complete, change and signal and print out South Dakota Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term.

Obtain and print out a large number of file themes using the US Legal Forms website, that provides the largest assortment of authorized types. Use expert and status-particular themes to handle your business or individual needs.

Form popularity

FAQ

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.

Once granted, an oil and gas lease gives the lessee a primary term ranging from 5 to 10 years, depending on water depth, to explore and develop the lease. A lessee must relinquish the lease if no activity has occurred within that specified amount of time.

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.

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.

In oil and gas leases, the habendum clause defines the primary term and secondary term of the lease, dictating how long the lease is in force. When used in the context of oil and gas leases, the focus of the habendum clause is on the "and so long thereafter" portion that extends the lease if conditions are met.

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.

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

South Dakota Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term