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Assignment of Oil and Gas Lease by Original Lessee...

Alaska Assignment of Oil and Gas Lease by Original Lessee, Short Form

Name: Alaska Assignment of Oil and Gas Lease by Original Lessee, Short Form
Brand: US Legal Forms
Rating: 4.56 (378 reviews)

Category:

Oil Gas and Minerals - Assignments

State:

Multi-State

Control #:

US-OG-277

Format:

Instant download

Description

This form is used when Assignor sells, conveys, and assigns to Assignee, all of Assignor's rights, title and interests in the Lease, without warranty of title, express or implied.

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How to fill out Alaska Assignment Of Oil And Gas Lease By Original Lessee, Short Form?

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FAQ

The primary term is the initial period during which a well may be drilled. If a successful well is drilled within the primary term, the lease will extend for as long as the well remains productive. If a well is not drilled within the primary term, the lease will usually expire.

A ?special warranty? is a covenant made by the lessor to defend the lessee against encumbrances or clouds on the oil and gas title created by the lessor during his ownership of the estate. The protection offered by this warranty is therefore limited to those title defects caused or created by the lessor himself.

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.

A mineral lease is a contractual agreement between the owner of a mineral estate (known as the lessor), and another party such as an oil and gas company (the lessee). The lease gives an oil or gas company the right to explore for and develop the oil and gas deposits in the area described in the lease.

A clause in an oil & gas lease that provides that if the leased land is later owned by separate parties, such as in a sale of part of the property, the lessee can continue to operate, develop, and treat the lease as a whole and pay royalties to each owner based on its percentage of ownership of the entire area.

Typical granting clauses include language such as ?oil, gas, and other minerals,?2 ?oil and all gas of whatsoever nature or kind,?3 or some variation of these simplistic descriptions.

What is the granting clause? The granting clause is the clause under which the owner of the oil and gas rights leases the oil and gas rights to the oil and gas company along with the right to develop the oil and gas on a specifically described piece of real estate.

An assignment of oil and gas lease is a contractual agreement between a landowner and an oil or gas company in which the company gains the right to explore for, develop, and produce oil and gas from the property.

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... A single lessee may file and pay for all lessees in an Accounting Unit. ... Lessee's First AK Oil Enter the date of first commercial production. Use the exact. ... the name, address, telephone and email (if available) of the proposed. Assignee. The name of the Assignor (Lessee) must match the name of the Lessee on the ...MARK WEBSTER, ASSIGNOR AND COBRA OIL & GAS COMPANY, ASSIGNEE. LESSOR: Ivol A Ferguson, a widow. LESSEE: J. Mark Webster. DATE: August 26th, 2005. DESCRIPTION ... Lessee must include in any contract of sale of gas the provisions of this section. Sec. 9. Damages to property - Lessee must pay lessor for damage to lessor's ... Nov 3, 2016 — The assignment clause governs how the lessor and lessee may assign their respective interests. It may contain a restraint on the lessee's power ... Potential buyers or investors interested in acquiring oil or gas lease rights from existing lessees. ... This could be the original lessee who wants to assign ... The lessee of a reinstated lease shall re- imburse the Secretary for the ... that the failure of the lessee to file a timely sur- render of the lease prior ... Feb 4, 2008 — The rule allows a lessee to apply for a lease renewal upon unit ... The BLM cannot determine how many lessees may qualify as small businesses ... The assignor(s) must manually sign 3 original copies and the assignee(s) must manually sign at least 1 of the 3 original copies. File three (3) completed copies ... Upload a document. Click on New Document and select the form importing option: upload Assignment of Oil and Gas Lease by Original Lessee, Short Form from your ...

Alaska Assignment of Oil and Gas Lease by Original Lessee, Short Form

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How to fill out Alaska Assignment Of Oil And Gas Lease By Original Lessee, Short Form?

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FAQ

What is the primary term of the oil and gas lease?

What is the special warranty clause in oil and gas lease?

What is the shut in clause on an oil and gas lease?

What type of lease gives a lessee the rights to oil and gas under the lessor's land?

What is the entirety clause in the oil and gas lease?

What is an example of a granting clause?

What is the granting clause of the oil and gas lease?

What is the assignment of oil and gas lease?

Interesting Questions

What is an Assignment of Oil and Gas Lease by Original Lessee, Short Form?

Why would someone need to assign their oil and gas lease?

Who is involved in an Assignment of Oil and Gas Lease by Original Lessee, Short Form?

What information is typically included in an Assignment of Oil and Gas Lease?

Do both parties need to agree for an assignment to take place?

Are there any legal restrictions on assigning an oil and gas lease?

What happens to the responsibilities of the original lessee after the assignment?

Can an assignment be revoked or undone?

What should I do if I am interested in assigning my oil and gas lease?

Is it necessary to record the Assignment of Oil and Gas Lease?

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