Colorado 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 Colorado Affidavit of Production is a legal document used in the oil and gas industry to extend an existing lease beyond its primary term. This affidavit is specifically designed for the state of Colorado and ensures that the lease continues even after the initial term has expired. Keywords: Colorado, Affidavit of Production, extend, oil and gas lease, primary term. The purpose of the Colorado Affidavit of Production is to provide concrete evidence that oil or gas is being produced on the leased property. By providing this evidence, the leaseholder can request an extension of the lease beyond the primary term, which is typically a fixed number of years. The affidavit serves as a representation of the current production and demonstrates the lessee's commitment to continuing production activities. The leaseholder must submit the affidavit to the appropriate regulatory body in Colorado, such as the Colorado Oil and Gas Conservation Commission (COG CC). There are variations of the Colorado Affidavit of Production, depending on the specific circumstances and conditions of the lease. Some different types of affidavits may include: 1. Affidavit of Production for Natural Gas: This affidavit is specific to gas production activities on the leased property and provides detailed information on the quantity of natural gas produced. 2. Affidavit of Production for Oil: This type of affidavit focuses on oil production and provides specific data on the volume of oil extracted from the property. 3. Combined Affidavit of Production: In cases where both oil and gas production are occurring simultaneously, this combined affidavit includes information on both types of production and their respective quantities. 4. Affidavit of Production for Lease Segments: In situations where the lease covers multiple parcels or segments of land, this affidavit separates the production data for each individual segment. These variations ensure that the affidavit accurately represents the specific type of production and lease conditions, allowing for a thorough evaluation by the regulatory body. It is crucial for leaseholders to employ the appropriate affidavit type to effectively extend their leases beyond the primary term. In conclusion, the Colorado Affidavit of Production is a vital legal document used by leaseholders in the oil and gas industry in Colorado. By submitting this document, leaseholders provide evidence of continued production and request an extension of their lease beyond the primary term. Variations of this affidavit exist, allowing for specificity based on the type of production and lease conditions. Proper utilization of the Colorado Affidavit of Production is essential for leaseholders seeking to maintain their oil and gas leases in Colorado.

The Colorado Affidavit of Production is a legal document used in the oil and gas industry to extend an existing lease beyond its primary term. This affidavit is specifically designed for the state of Colorado and ensures that the lease continues even after the initial term has expired. Keywords: Colorado, Affidavit of Production, extend, oil and gas lease, primary term. The purpose of the Colorado Affidavit of Production is to provide concrete evidence that oil or gas is being produced on the leased property. By providing this evidence, the leaseholder can request an extension of the lease beyond the primary term, which is typically a fixed number of years. The affidavit serves as a representation of the current production and demonstrates the lessee's commitment to continuing production activities. The leaseholder must submit the affidavit to the appropriate regulatory body in Colorado, such as the Colorado Oil and Gas Conservation Commission (COG CC). There are variations of the Colorado Affidavit of Production, depending on the specific circumstances and conditions of the lease. Some different types of affidavits may include: 1. Affidavit of Production for Natural Gas: This affidavit is specific to gas production activities on the leased property and provides detailed information on the quantity of natural gas produced. 2. Affidavit of Production for Oil: This type of affidavit focuses on oil production and provides specific data on the volume of oil extracted from the property. 3. Combined Affidavit of Production: In cases where both oil and gas production are occurring simultaneously, this combined affidavit includes information on both types of production and their respective quantities. 4. Affidavit of Production for Lease Segments: In situations where the lease covers multiple parcels or segments of land, this affidavit separates the production data for each individual segment. These variations ensure that the affidavit accurately represents the specific type of production and lease conditions, allowing for a thorough evaluation by the regulatory body. It is crucial for leaseholders to employ the appropriate affidavit type to effectively extend their leases beyond the primary term. In conclusion, the Colorado Affidavit of Production is a vital legal document used by leaseholders in the oil and gas industry in Colorado. By submitting this document, leaseholders provide evidence of continued production and request an extension of their lease beyond the primary term. Variations of this affidavit exist, allowing for specificity based on the type of production and lease conditions. Proper utilization of the Colorado Affidavit of Production is essential for leaseholders seeking to maintain their oil and gas leases in Colorado.