This form is a Rocky Mountain Lease agreement wherein Lessor grants, leases, and lets exclusively to Lessee the lands described within for the purposes of conducting seismic and geophysical operations, exploring, drilling, mining, and operating for, producing and owning oil, gas, sulfur, and all other minerals whether or not similar to those mentioned (collectively the oil or gas ), and the right to make surveys, lay pipelines, establish and utilize facilities for surface or subsurface disposal of salt water, construct roads and bridges, dig canals, build tanks, power stations, power lines, telephone lines, and other structures on the Lands, necessary or useful in Lessee's operations on the Lands or any other land adjacent to the Lands. This lease is a paid up lease and provides for pooling.
Kansas Oil and Gas Lease - Rocky Mountain Paid Up - Form A
Description
How to fill out Oil And Gas Lease - Rocky Mountain Paid Up - Form A?
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FAQ
Royalty Payment Clauses A royalty is agreed upon as a percentage of the lease, minus what was reasonably used in the lessee's production costs. This is stipulated in a Royalty Clause. The royalty is paid by the lessee to the owner of the mineral rights, the lessor in the lease.
A contract that, for a stipulated sum, conveys to an operator (Lessee) the right to drill for oil and gas.
: a deed by which a landowner authorizes exploration for and production of oil and gas on his land usually in consideration of a royalty.
If a lease is a "paid-up" lease, then the lease will remain in effect during the entire primary term with no further payments to the Lessor unless and until actual production of oil or gas is established.
Ingly, when you see the words ?Paid-Up Lease,? this normally means that you will receive an upfront bonus for which the oil and gas company does not have to do anything during the initial or primary term of the lease.
Negotiating an oil and gas lease will require some research upfront. If you're a landowner interested in working with an oil and gas company, you should explore their history and experience. You'll want to work with a reputable company that works in your best interests, holds a high standard, and maintains insurance.
What is a Fee Interest? A fee interest is the legal possession of both the surface and mineral rights for a property. The owner of a fee interest may choose to sell the surface rights, but retain the mineral rights ? or vice versa. An oil and gas firm does not usually acquire a fee interest.
RELEASE: releases of property rights and/or other legal rights that the owner would otherwise be entitled to under law. RELEASE LEASE: releases of oil & gas lease rights that a person would otherwise be entitled to under law.