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.
Texas Audit of Lessee's Books and Records
Category:
State:
Multi-State
Control #:
US-OG-782
Format:
Word;
Rich Text
Instant download
Description
How to fill out Audit Of Lessee's Books And Records?
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FAQ
Texas Natural Resources Code Section 91.143 ? False Applications, Reports, and Documents and Tampering with Gauges.
(I) interest shall accrue on all delinquent royalties at the rate of 12% per year (simple interest) pursuant to the Texas Natural Resources Code, §52.131(g);
Section 91.504, Texas Natural Resources Code, gives an owner of a royalty interest in oil or gas produced in Texas the right to request from a payor information about itemized deductions, the heating value of the gas, and the Railroad Commission of Texas identification number for the lease, property, or well that may ...
Among the most important natural resources of Texas are its large mineral deposits under its soil, particularly of petroleum and natural gas, but also its lumber, solar energy, and its numerous and diverse water resources that include its rivers and streams, its bays, estuaries, and aquifers.
Typically, the GLO receives a 20 to 25 percent royalty from oil and gas produced from leases on state land and may take this royalty in cash or in kind, which can be sold competitively to public entities such as gas or electricity (see Energy Marketing).
