The District of Columbia Amendment to Oil and Gas Lease aims to modify the pooling provision within the existing lease agreement. This amendment plays a crucial role in establishing a framework for efficient and responsible oil and gas drilling operations within the District of Columbia. Under the amendment, the pooling provision within the lease agreement is revised to facilitate the consolidation of multiple oil and gas leases or units into a single pool. This streamlines the extraction process and optimizes resource utilization, promoting greater operational efficiency and reducing environmental impact. Keywords: District of Columbia, Amendment, Oil and Gas Lease, Pooling Provision, Consolidation, Extraction, Operational Efficiency, Resource Utilization, Environmental Impact. There aren't explicitly mentioned different types of District of Columbia Amendment to Oil and Gas Lease to Amend Pooling Provision. However, variations or modifications can occur based on the specific requirements or objectives of the leaseholders involved. These may include alterations in the duration of the lease, royalty rates, operational restrictions, or other terms and conditions. Nevertheless, the general purpose of the amendment remains focused on updating and refining the pooling provision to enhance overall efficiency and effectiveness in oil and gas production activities.
District of Columbia Amendment to Oil and Gas Lease to Amend Pooling Provision
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FAQ
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.
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.
In a few words, a pooling clause is written into a lease. This oil and gas clause allows the leased premises to be combined with other lands to form a single drilling unit. It's not uncommon for there to be a pool of oil or gas under numerous parcels of land.
The Pugh Clause ? A clause in the Oil and Gas Lease which modifies usual pooling language to provide that drilling operations on or production from a pooled unit will not preserve the whole lease.
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.
By way of background, a ?free use? clause is a provision in an oil/gas lease which gives the lessee the right to use gas produced from the leasehold.
Surrender Clause A clause commonly found in an oil and gas lease authorizing a lessee to release its rights to all or any portion of the leased premises at any time and be relieved of further obligations relating to the acreage surrendered.
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.