Indiana Surface Lease to Allow Storing or Transporting Oil and Gas from off Premises

State:
Multi-State
Control #:
US-OG-151
Format:
Word; 
Rich Text
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Description

This form addresses the situation where an oil operator desires to store oil (probably in a tank battery) on lands where the wells are not located and are not subject to an oil and gas lease.
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FAQ

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 ?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.

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.

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.

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.

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.

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.

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.

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Indiana Surface Lease to Allow Storing or Transporting Oil and Gas from off Premises