The Delaware Release of Call on Production is a legal document that is used in the state of Delaware to release or remove a call from production activities. This document is typically used in the oil and gas industry, specifically in areas where drilling and extraction activities take place. The primary purpose of a Delaware Release of Call on Production is to grant the operating company the right to drill, extract, and produce oil or gas from the designated well or field. It allows for the release of the call that restricts or limits the production activities. This can include removing any previous restrictions or limits on the quantity of production, the number of wells that can be drilled, or the amount of time a well can be in production. There are a few different types of Delaware Release of Call on Production that may be used depending on the specific circumstances: 1. Primary Term Release: This type of release typically occurs after the primary term of the lease has expired. It allows the operating company to continue production activities beyond the initial period specified in the lease agreement. 2. Secondary Term Release: A secondary term release is used when a lease is nearing the end of its primary term. It allows the operating company to extend the lease for a secondary term or continue production activities for an additional specified period. 3. Depth Release: A depth release is specific to situations where the call on production is restricted to a certain depth. This type of release would grant the operating company the right to produce from deeper formations or reservoirs. 4. Acreage Release: An acreage release is used when the call on production applies only to a specific portion of the leased acreage. This release allows the operating company to produce from the remainder of the acreage that was previously restricted. It is important to note that the specific terms and conditions of a Delaware Release of Call on Production may vary depending on the lease agreement and the particular requirements of the operating company. Consulting with a knowledgeable attorney or industry expert is essential to ensure compliance with Delaware state laws and regulations.
Delaware Release of Call on Production
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