Arkansas Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term

• Category: Oil Gas and Minerals - Affidavits
• State: Multi-State
• Control #: US-OG-187
• Format: Word; Rich Text

Description

An affidavit is statement of facts which is sworn to (or affirmed) before an officer who has authority to administer an oath (e.g. a notary public). This Affidavit is made for the purpose of giving notice that the Lease has been extended beyond its stated primary term in accordance with the terms of the Lease. The Arkansas Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term is a legal document used in the state of Arkansas to extend an oil and gas lease beyond its primary term, based on the production of the leased property. This affidavit serves as evidence that the leased area is actively producing oil and gas, which justifies the continuation of the lease beyond its original expiration date. The affidavit requires the leaseholder or operator to provide detailed information about the production of oil and gas from the leased property during the primary term. This information typically includes the total volume of oil and gas produced, the specific well(s) or unit(s) producing the resources, and the dates of production. The affidavit may also require additional details such as the location of the leases and the names of all parties involved in the lease agreement. By submitting the Arkansas Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term, the leaseholder seeks to demonstrate to the landowner and the relevant authorities that sufficient production is ongoing, warranting an extension of the lease agreement. This extension allows for the continued extraction and production of valuable oil and gas resources from the property, providing an economic benefit to both the leaseholder and the state. It's important to note that there may be different types or variations of the Arkansas Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term, depending on individual lease agreements and specific requirements set by the Arkansas Oil and Gas Commission. Additionally, the affidavit may sometimes be referred to as an "Affidavit to Extend Oil and Gas Lease" or a similar variation, but they generally serve the same purpose of extending the lease based on production.

The Arkansas Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term is a legal document used in the state of Arkansas to extend an oil and gas lease beyond its primary term, based on the production of the leased property. This affidavit serves as evidence that the leased area is actively producing oil and gas, which justifies the continuation of the lease beyond its original expiration date. The affidavit requires the leaseholder or operator to provide detailed information about the production of oil and gas from the leased property during the primary term. This information typically includes the total volume of oil and gas produced, the specific well(s) or unit(s) producing the resources, and the dates of production. The affidavit may also require additional details such as the location of the leases and the names of all parties involved in the lease agreement. By submitting the Arkansas Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term, the leaseholder seeks to demonstrate to the landowner and the relevant authorities that sufficient production is ongoing, warranting an extension of the lease agreement. This extension allows for the continued extraction and production of valuable oil and gas resources from the property, providing an economic benefit to both the leaseholder and the state. It's important to note that there may be different types or variations of the Arkansas Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term, depending on individual lease agreements and specific requirements set by the Arkansas Oil and Gas Commission. Additionally, the affidavit may sometimes be referred to as an "Affidavit to Extend Oil and Gas Lease" or a similar variation, but they generally serve the same purpose of extending the lease based on production.