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 Shut-In Gas Royalty
Category:
State:
Multi-State
Control #:
US-OG-824
Format:
Word;
Rich Text
Instant download
Description
Free preview
How to fill out Shut-In Gas Royalty?
Finding the right authorized record design might be a struggle. Obviously, there are plenty of themes available on the net, but how will you find the authorized form you require? Make use of the US Legal Forms web site. The support provides a huge number of themes, such as the Texas Shut-In Gas Royalty, that can be used for business and private needs. Every one of the types are inspected by experts and meet federal and state specifications.
In case you are already signed up, log in for your accounts and click the Download button to have the Texas Shut-In Gas Royalty. Utilize your accounts to search through the authorized types you may have bought previously. Proceed to the My Forms tab of your accounts and acquire one more version of the record you require.
In case you are a new consumer of US Legal Forms, listed here are straightforward guidelines so that you can stick to:
- First, make certain you have selected the correct form for your area/region. You may check out the shape using the Preview button and browse the shape outline to guarantee it will be the right one for you.
- If the form fails to meet your needs, use the Seach industry to find the correct form.
- Once you are positive that the shape is acceptable, go through the Buy now button to have the form.
- Select the costs strategy you desire and type in the essential info. Build your accounts and buy your order using your PayPal accounts or credit card.
- Opt for the document structure and down load the authorized record design for your product.
- Complete, revise and print out and sign the attained Texas Shut-In Gas Royalty.
US Legal Forms is the biggest collection of authorized types where you can see various record themes. Make use of the service to down load expertly-made paperwork that stick to condition specifications.
Form popularity
FAQ
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.
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 ...
The royalty percentage is usually 12.5% to 15% but can change based on regional regulations or negotiations. Types of Leases: There are different types of oil and gas leases, and they affect royalty calculations differently.
In such circumstances where a gas well has been completed but no market exists for the gas, the shut-in clause enables a lessee to keep the non-producing lease in force by the payment of the shut-in royalty.
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).
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.
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.
The expression used to describe a well that is capable of gas production but is not yet connected to a pipeline is ?shut-in.?
