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Utah Rental Lease Pooling Provision

Utah Rental Lease Pooling Provision

Name: Utah Rental Lease Pooling Provision
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.65 (399 reviews)

Category:

Utah Oil Gas and Minerals - Leases

State:

Utah

Control #:

UT-OG-002

Format:

Instant download

Description

This form is a Utah Lease agreement wherein Lessor grants, leases, and lets exclusively to Lessee the lands described within for the purposes of conducting seismic and geophysical operations, exploring, drilling, mining, and operating for, producing and owning oil, gas, sulfur, and all other minerals whether or not similar to those mentioned (collectively the oil or gas), and the right to make surveys, lay pipelines, establish and utilize facilities for surface or subsurface disposal of salt water, construct roads and bridges, dig canals, build tanks, power stations, power lines, telephone lines, and other structures on the Lands, necessary or useful in Lessee's operations on the Lands or any other land adjacent to the Lands. This lease form also provides for pooling.

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FAQ

The Fit Premises Act is the Utah law that governs housing conditions. Under this law, a landlord must provide safe and livable housing. This means the landlord must rent housing that is up to code.If you break something in your apartment or cause damage to the rental, you may have to pay for the repairs.

It also records a "Declaration of Pooling" or similarly named document in the land records office at the local Courthouse. The declaration shows the boundaries of the pooling unit and identifies all the landowners and amount of property each landowner actually has in the unit.

Pooling Clause: Joining the Leased Land with Other Land The area formed is called a pool or sometimes a pooled unit. Pooling permits the lessee to prevent waste by avoiding unnecessary drilling and to protect the correlative rights of the mineral owners in the common reservoir.

As noted above, while pooling focuses on efficiently combining lands for the purpose of obtaining a drilling permit to drill a single well, unitization focuses on the combination of interests covering a larger area to facilitate development of all or part of a common source of supply (i.e. a field/reservoir).

Once a Pooling Order is entered, you will receive a copy of the Order, which will state your options as an owner of an interest in the unit. Typically, the Order will afford you a number of options of a cash bonus and royalty payments on production based on the fair market value of your interest.

By the law, Utah tenants are required to abide in a certain way. They must follow certain procedures as outlined by the law as well. Tenants also have certain rights that they are entitled to, as well as things they are responsible for. The tenant has the right to dwell in a safe and sanitary housing unit.

A Pugh Clause is meant to prevent a lessee from declaring all lands under an oil and gas lease as being held by production, even if production only occurs on a fraction of the property.

Pooling is the combination of all or portions of multiple oil and gas leases to form a unit for the drilling of a single oil and/or gas well.The oil and gas company can lease these under separate leases and separate terms and then pool these parcels to drill the well.

Utah Rental Lease Pooling Provision

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How to fill out Utah Rental Lease Pooling Provision?

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FAQ

What is the Utah fit Premises Act?

What is a declaration of pooling?

What is a pooling clause?

What is the difference between pooling and unitization?

What is a pooling bonus?

What Are Renters Rights in Utah?

What is a Pugh clause in an oil and gas lease?

What does pooling mean in oil and gas?

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