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Waiver of Lease Provision by Lessor Who Owns Surface...

Louisiana Waiver of Lease Provision by Lessor Who Owns Surface, Prohibiting Drilling within Specified Distance of Structure

Name: Louisiana Waiver of Lease Provision by Lessor Who Owns Surface, Prohibiting Drilling within Specified Distance of Structure
Brand: US Legal Forms
Rating: 4.88 (218 reviews)

Category:

Oil Gas and Minerals - Waivers

State:

Multi-State

Control #:

US-OG-155

Format:

Instant download

Description

This form serves to amend an oil and gas lease to allow a lessee to drill at any location on lands subject to a lease, including a location in close proximity to a building or structure on the lands subject to a lease. The Louisiana Waiver of Lease Provision by Lessor Who Owns Surface, Prohibiting Drilling within Specified Distance of Structure is a legal provision included in lease agreements in the state of Louisiana. This provision allows the owner of the surface rights to restrict or prohibit drilling activities within a certain distance of their structure. By incorporating this provision into a lease agreement, lessors can exercise control over drilling operations conducted near their property, providing a level of protection and ensuring the safety and integrity of their structures. Within the Louisiana Waiver of Lease Provision, there may be different types or variations available to lessors. Some of these may include: 1. Surface Prohibition Distance: This type of waiver sets a specific distance from the lessor's structure within which drilling activities are strictly prohibited. It ensures that drilling operations do not interfere with the structure's stability, safety, or aesthetics. 2. Notification Requirement: This variation of the waiver obligates the lessee (drilling operator) to notify the lessor prior to commencing any drilling activities within the specified distance of the structure. This allows the lessor to be aware of upcoming activities and make necessary arrangements if needed. 3. Compensation Agreement: In this type of waiver, the lessor and lessee agree upon a compensation arrangement for any potential damages caused to the structure as a result of drilling activities within the specified distance. This protects the lessor from potential financial burdens while giving the lessee the opportunity to continue drilling operations with appropriate precautions. 4. Termination Right: Some variations of the Louisiana Waiver of Lease Provision may grant the lessor the right to terminate or renegotiate the lease agreement if drilling activities are conducted within the specified distance of the structure without prior consent or in violation of the waiver's terms. This gives the lessor more control over the tenant's activities and acts as a deterrent against potential infringements. It is important for both lessors and lessees to understand the implications and specific terms associated with the Louisiana Waiver of Lease Provision by Lessor Who Owns Surface, Prohibiting Drilling within Specified Distance of Structure. Seeking legal counsel and thorough review is crucial to ensure compliance and protect the interests of all parties involved.

The Louisiana Waiver of Lease Provision by Lessor Who Owns Surface, Prohibiting Drilling within Specified Distance of Structure is a legal provision included in lease agreements in the state of Louisiana. This provision allows the owner of the surface rights to restrict or prohibit drilling activities within a certain distance of their structure. By incorporating this provision into a lease agreement, lessors can exercise control over drilling operations conducted near their property, providing a level of protection and ensuring the safety and integrity of their structures. Within the Louisiana Waiver of Lease Provision, there may be different types or variations available to lessors. Some of these may include: 1. Surface Prohibition Distance: This type of waiver sets a specific distance from the lessor's structure within which drilling activities are strictly prohibited. It ensures that drilling operations do not interfere with the structure's stability, safety, or aesthetics. 2. Notification Requirement: This variation of the waiver obligates the lessee (drilling operator) to notify the lessor prior to commencing any drilling activities within the specified distance of the structure. This allows the lessor to be aware of upcoming activities and make necessary arrangements if needed. 3. Compensation Agreement: In this type of waiver, the lessor and lessee agree upon a compensation arrangement for any potential damages caused to the structure as a result of drilling activities within the specified distance. This protects the lessor from potential financial burdens while giving the lessee the opportunity to continue drilling operations with appropriate precautions. 4. Termination Right: Some variations of the Louisiana Waiver of Lease Provision may grant the lessor the right to terminate or renegotiate the lease agreement if drilling activities are conducted within the specified distance of the structure without prior consent or in violation of the waiver's terms. This gives the lessor more control over the tenant's activities and acts as a deterrent against potential infringements. It is important for both lessors and lessees to understand the implications and specific terms associated with the Louisiana Waiver of Lease Provision by Lessor Who Owns Surface, Prohibiting Drilling within Specified Distance of Structure. Seeking legal counsel and thorough review is crucial to ensure compliance and protect the interests of all parties involved.

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Noun. : a deed by which a landowner authorizes exploration for and production of oil and gas on his land usually in consideration of a royalty.

- 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.

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.

The royalty percentage is usually 12.5% to 15% but can change based on regional regulations or negotiations. Types of Leases: There are different types of oil and gas leases, and they affect royalty calculations differently.

The primary term on average is 3 years. Companies can add a 2-year extension if they wish. The company that executed the lease uses this time period to achieve drilling the well. Once that is completed, the secondary term begins and lasts for as long as the well is producing.

A mineral lease is a contract between a mineral owner (the lessor) and a company or working interest owner (the lessee) in which the lessor grants the lessee the right to explore, drill, and produce oil, gas, and other minerals for a specified period of time.

Oil leases are agreements between an oil and gas company known as the lessee and mineral owners known as a lessor, in which the lessor grants the lessee the permission to explore, drill, and produce those minerals for a specified period known as a primary term or as long as the minerals continue to be productive.

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Lessee, during the initial five (5) year term, is hereby given the right subject to written approval by Lessor prior to commencement of drilling, to drill ... If a subsequent Oil Shut-in payment is denied by Lessor because Lessee has failed to demonstrate sufficiently to Lessor that it is diligently, and in good faith ...Click on New Document and select the form importing option: upload Waiver of Lease Provision by Lessor Who Owns Surface, Prohibiting Drilling within Specified ... All wells drilled on a lease basis shall bear the lessor's surname and initials or given name. ... contiguous property owned by the lessor, or within the confines ... by JB McFarland · Cited by 3 — It is also a good idea to include a provision granting the Lessor a security interest in the Lessee's share of production to secure the payment of royalty. This ... Aug 1, 2014 — Landlord's Waivers are intercreditor agreements for the benefit of the tenant's lender or equipment lessor, stipulating the landlord's and the ... How to fill out Allegheny Pennsylvania Waiver Of Lease Provision By Lessor Who Owns Surface, Prohibiting Drilling Within Specified Distance Of Structure? Where a landlord fails to accomplish repairs specifically set out in the lease, the tenant is entitled to have the repairs made himself and apply the amount of. LESSOR hereby expressly waives any landlord's lien, whether contractual or statutory, to any of LESSEE's Property. Additionally, from time to time, and in any ... by SW Wright · 1987 · Cited by 7 — Martin involved use of the lessor's private road by the lessee, who was drilling for oil on the lessor's property. The court approved the lessee's use of the ...

Louisiana Waiver of Lease Provision by Lessor Who Owns Surface, Prohibiting Drilling within Specified Distance of Structure

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Interesting Questions

What is a waiver of lease provision?

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