A Kansas Waiver of Lease Provision by Lessor Who Owns Surface, Prohibiting Drilling within Specified Distance of Structure is a legal agreement or provision included in a lease contract in the state of Kansas. This provision is intended to protect property owners who also own the surface rights of their land from potential damages that may occur due to drilling activities within a certain distance from their structures. In Kansas, there are different types or variations of this waiver depending on the specific requirements and preferences of the lessor and lessee. Some commonly named types include: 1. Surface Usage Agreement: This waiver type specifies the terms and conditions under which the lessor allows drilling activities near their structure while outlining the restrictions and limitations to protect their property. 2. No-Drill Zone Provision: This type of waiver prohibits any drilling within a specified distance from the structure. It ensures that the lessee must conduct their drilling activities at a safe distance to avoid any potential damage to the lessor's structure. 3. Damage Liability Clause: This variation of the waiver provision includes specific language holding the lessee responsible for any damages caused to the structure as a result of their drilling activities within a certain distance. 4. Indemnification Agreement: This waiver type outlines the lessee's obligation to indemnify and hold harmless the lessor from any liabilities, damages, or losses resulting from drilling activities conducted within the prohibited distance of the structure. Kansas law requires these waiver provisions to be included in lease agreements to ensure that both parties understand and agree to the restrictions and obligations related to drilling activities near structures. These waivers aim to protect property owners from potential harm and provide a legal framework for resolving any disputes that may arise due to drilling-related damages. It is crucial for both lessors and lessees to carefully review and negotiate the terms of the Kansas Waiver of Lease Provision to ensure that their rights, obligations, and potential liabilities are clearly defined and agreed upon. Seeking legal counsel before entering into such agreements is advisable to ensure compliance with Kansas state laws and regulations.
Kansas Waiver of Lease Provision by Lessor Who Owns Surface, Prohibiting Drilling within Specified Distance of Structure
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- Lessor -The owner of the minerals that grants the lease. - Lessee -The oil and gas developer that takes the lease. - Primary Term-Length of time the Lessee has to establish production by drilling a well on the lands subject to the lease. Generally, primary terms run from one to ten years.
What does Oil and Gas Leasing Mean? Oil and Gas leasing is a contract through which a landowner sanctions the exploration for and production of oil and gas on their land in exchange for an agreed royalty price. What is Oil and Gas Leasing and How Does it Work Pheasant Energy ? oil-and-gas-leasing Pheasant Energy ? oil-and-gas-leasing
A lease agreement is an arrangement between two parties ? lessor and lessee, by which the lessor allows the lessee the right to use a property owned or managed by the lessor for a specified period of time, in exchange for periodic payment of rentals. The agreement does not provide ownership rights to the lessee.
Landowners should consider consulting with a local mineral rights expert when it comes to reviewing the quality of a lease offer to determine if it is mutually beneficial- LandGate can refer mineral owners to a local expert. There are many factors that influence the calculation of mineral worth.
These basic lease terms ? bonus, royalty, term, delay rental (if any) and shut-in royalty --are typically the "deal terms" negotiated between the Lessor and Lessee. The Lessor typically wants the highest bonus, delay rental and royalty fraction he can get, and the shortest primary term. The Lessee wants the opposite.
- Lessor -The owner of the minerals that grants the lease. - Lessee -The oil and gas developer that takes the lease. - Primary Term-Length of time the Lessee has to establish production by drilling a well on the lands subject to the lease. Generally, primary terms run from one to ten years. Page 1 of 6 Explanation of Oil and Gas Leases in West Virginia marcoassessor.org ? 2019/06 ? Oil... marcoassessor.org ? 2019/06 ? Oil... PDF
Royalty Rates: The royalty agreement or rate is a percentage of total revenue gotten from the sale of oil and gas, and it's always outlined in the lease agreement. The royalty percentage is usually 12.5% to 15% but can change based on regional regulations or negotiations. How to Calculate Oil and Gas Royalty Payments? - Pheasant Energy pheasantenergy.com ? how-to-calculate-oil-... pheasantenergy.com ? how-to-calculate-oil-...
The BLM issues competitive leases for oil and gas exploration and development on lands owned or controlled by the Federal government. General Oil and Gas Leasing Instructions blm.gov ? programs ? energy-and-minerals blm.gov ? programs ? energy-and-minerals
