Harris Texas Affidavit of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment
Description
How to fill out Affidavit Of Cessation Of Production And Plugging Of Well Specifying Date Of Last Royalty Payment?
If you are looking for a reliable legal document provider to obtain the Harris Affidavit of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment, think about US Legal Forms. Whether you wish to initiate your LLC business or oversee your property distribution, we've got your needs covered. You don’t have to possess legal knowledge to find and download the correct template.
Just enter a search term or navigate through Harris Affidavit of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment, either by a keyword or by the relevant state/county. Once you find the required template, you can Log In and download it or save it to the My documents section.
No account? It's simple to begin! Just locate the Harris Affidavit of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment template and review the form’s preview and description (if provided). If you're satisfied with the terminology of the template, proceed to click Buy now. Establish an account and choose a subscription plan. The template will be readily available for download right after the payment is processed.
Now you can complete the form. Managing your legal issues doesn’t have to be costly or laborious. US Legal Forms is here to demonstrate that.
Our vast assortment of legal forms makes this process more economical and accessible. Establish your first business, organize your advanced care planning, draft a real estate agreement, or finalize the Harris Affidavit of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment - all from the comfort of your home. Register with US Legal Forms today!
- You can explore from over 85,000 forms categorized by state/county and circumstance.
- The user-friendly interface, range of educational materials, and committed support team simplify the process of locating and completing various documentation.
- US Legal Forms is a reputable service providing legal forms to millions since 1997.
Form popularity
FAQ
To shut in a well is to close off a well so that it stops producing. An emergency shutdown valve was installed on the wellhead to shut in the well at any time. The company had to shut in a well that began producing water in order to prevent contamination of the dry oil from other wells when production was commingled.
A payment stipulated in the oil and gas lease, which royalty owners receive in lieu of actual production, when a gas well is shut-in due to lack of a suitable market, a lack of facilities to produce the product, or other cases defined within the shut-in provisions contained in the oil and gas lease.
In the petroleum industry, shutting-in is the implementation of a production cap set lower than the available output of a specific site. This may be part of an attempt to constrict the oil supply or a necessary precaution when crews are evacuated ahead of a natural disaster.
A payment stipulated in the oil and gas lease, which royalty owners receive in lieu of actual production, when a gas well is shut-in due to lack of a suitable market, a lack of facilities to produce the product, or other cases defined within the shut-in provisions contained in the oil and gas lease.
To shut in a well is to close off a well so that it stops producing. An emergency shutdown valve was installed on the wellhead to shut in the well at any time. The company had to shut in a well that began producing water in order to prevent contamination of the dry oil from other wells when production was commingled.
Production in Paying Quantities means sufficient production to yield a profit, however small, over the cost of producing and lifting oil and gas without regard to payout of the investment; measured from standpoint of lessee; Garcia v. King, 164 S.W. 2d 509 (Tex); Clifton v. Koontz, 325 S.W. 2d 684 (Tex).
in clause (or shutin royalty clause) traditionally allows the lessee to maintain the lease by making shutin payments on a well capable of producing oil or gas in paying quantities where the oil or gas cannot be marketed, whether due to a lack of pipeline connection or otherwise.
To restart production, it is necessary to bring a new rig, drill the cement plug, and pump the sludge blocking the well head. The hope is that oil will start to flow again. If this fails, you have to drill a new well, inject chemicals or even perform hydraulic fracturation (fracking).
in clause (or shutin royalty clause) traditionally allows the lessee to maintain the lease by making shutin payments on a well capable of producing oil or gas in paying quantities where the oil or gas cannot be marketed, whether due to a lack of pipeline connection or otherwise.
Essentially, the shut-in royalty provision allows a lessee to temporarily cease production (i.e., shut-in a well) and pay a shut-in royalty to the lessor in place of the royalty on production that is not occurring during the shut-in period.
