Utah Farmout Agreement Providing For Multiple Wells with Production Required to Earn An Assignment

State:
Multi-State
Control #:
US-OG-223
Format:
Word; 
Rich Text
Instant download

Description

A farmout agreement is used when the "farmor" agrees to assign acreage to the "farmee" in return for the "farmee" performing specified drilling and testing obligations, with the "farmor" also reserving an interest in the acreage assigned and in the production from the wells drilled by the second company.


Free preview
  • Preview Farmout Agreement Providing For Multiple Wells with Production Required to Earn An Assignment
  • Preview Farmout Agreement Providing For Multiple Wells with Production Required to Earn An Assignment
  • Preview Farmout Agreement Providing For Multiple Wells with Production Required to Earn An Assignment
  • Preview Farmout Agreement Providing For Multiple Wells with Production Required to Earn An Assignment
  • Preview Farmout Agreement Providing For Multiple Wells with Production Required to Earn An Assignment
  • Preview Farmout Agreement Providing For Multiple Wells with Production Required to Earn An Assignment
  • Preview Farmout Agreement Providing For Multiple Wells with Production Required to Earn An Assignment
  • Preview Farmout Agreement Providing For Multiple Wells with Production Required to Earn An Assignment
  • Preview Farmout Agreement Providing For Multiple Wells with Production Required to Earn An Assignment
  • Preview Farmout Agreement Providing For Multiple Wells with Production Required to Earn An Assignment
  • Preview Farmout Agreement Providing For Multiple Wells with Production Required to Earn An Assignment

How to fill out Utah Farmout Agreement Providing For Multiple Wells With Production Required To Earn An Assignment?

You may devote hrs online looking for the legal papers format that suits the state and federal demands you need. US Legal Forms gives 1000s of legal varieties that are examined by pros. It is possible to download or print the Utah Farmout Agreement Providing For Multiple Wells with Production Required to Earn An Assignment from your services.

If you currently have a US Legal Forms profile, it is possible to log in and then click the Download option. Following that, it is possible to comprehensive, revise, print, or sign the Utah Farmout Agreement Providing For Multiple Wells with Production Required to Earn An Assignment. Every single legal papers format you buy is your own forever. To obtain an additional version associated with a purchased type, go to the My Forms tab and then click the corresponding option.

Should you use the US Legal Forms internet site the very first time, keep to the basic guidelines listed below:

  • Very first, ensure that you have chosen the proper papers format for that area/metropolis of your liking. Read the type description to ensure you have selected the appropriate type. If accessible, utilize the Review option to look with the papers format also.
  • In order to discover an additional model from the type, utilize the Lookup area to find the format that suits you and demands.
  • After you have identified the format you would like, click on Get now to continue.
  • Find the rates strategy you would like, type your qualifications, and register for a free account on US Legal Forms.
  • Complete the deal. You can utilize your Visa or Mastercard or PayPal profile to purchase the legal type.
  • Find the formatting from the papers and download it for your product.
  • Make adjustments for your papers if necessary. You may comprehensive, revise and sign and print Utah Farmout Agreement Providing For Multiple Wells with Production Required to Earn An Assignment.

Download and print 1000s of papers layouts using the US Legal Forms Internet site, that offers the biggest variety of legal varieties. Use expert and express-particular layouts to handle your organization or individual requirements.

Form popularity

FAQ

Also known as a farm-in agreement. A type of contract through which an investor (a farmee) may acquire an interest in an upstream project from an existing project participant (a farmor). It is typically used in the exploration or development stage of a project.

A farmout is when a resource-producing property is outsourced for development to a third party or farmee. The farmee pays the owner (farmor) royalties on income generated from the outsourced activities. Farmouts are most common in natural resources exploration and extraction, such as with oil, gas, or minerals mining.

One example is where it is projected that the farmee will pay for 75% of the drilling costs, the parties may agree that upon meeting the earning barrier, the farmee will obtain a 75% interest in the acreage committed to the well, or even the entire contract area.

While the first is the entry of companies into O&G exploration, the farm-out takes place when a business with the current concession is willing to give up part or all of its available area. Making a simpler analogy about the process, the farm-in is the buyer and the farm-out is the seller.

A farm out is a type of agreement where a party that has a working interest to a gas and oil lease will grant that interest to another party. The other party will then be contractually obligated to meet specific conditions, such as setting up a drill in a specific location, drilling to an agreed upon depth, etc.

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

Utah Farmout Agreement Providing For Multiple Wells with Production Required to Earn An Assignment