A farmout agreement is used when the "farmor" agrees to assign acreage to the "farmee" in return for the "farmee" performing specified drilling and testing obligations, with the "farmor" also reserving an interest in the acreage assigned and in the production from the wells drilled by the second company.
Louisiana Farmout Agreement - Short Form
Category:
State:
Multi-State
Control #:
US-OG-224
Format:
Word;
Rich Text
Instant download
Description
Free preview
How to fill out Louisiana Farmout Agreement - Short Form?
If you have to complete, obtain, or print out legal papers themes, use US Legal Forms, the largest assortment of legal forms, that can be found on-line. Use the site`s simple and hassle-free research to discover the files you will need. Various themes for business and personal purposes are categorized by types and suggests, or keywords. Use US Legal Forms to discover the Louisiana Farmout Agreement - Short Form within a couple of clicks.
If you are presently a US Legal Forms consumer, log in to the account and click the Download option to get the Louisiana Farmout Agreement - Short Form. You may also accessibility forms you in the past downloaded within the My Forms tab of your respective account.
If you use US Legal Forms the very first time, follow the instructions below:
- Step 1. Be sure you have selected the form for the appropriate area/country.
- Step 2. Use the Preview solution to look through the form`s information. Don`t forget about to read through the outline.
- Step 3. If you are unhappy with the type, use the Search field towards the top of the display to discover other types of your legal type template.
- Step 4. Upon having identified the form you will need, select the Buy now option. Pick the prices prepare you prefer and put your qualifications to register for an account.
- Step 5. Process the financial transaction. You should use your bank card or PayPal account to perform the financial transaction.
- Step 6. Pick the structure of your legal type and obtain it in your gadget.
- Step 7. Complete, modify and print out or signal the Louisiana Farmout Agreement - Short Form.
Each legal papers template you get is the one you have permanently. You might have acces to every type you downloaded inside your acccount. Go through the My Forms area and choose a type to print out or obtain yet again.
Compete and obtain, and print out the Louisiana Farmout Agreement - Short Form with US Legal Forms. There are millions of skilled and express-particular forms you may use for your personal business or personal requirements.
Form popularity
FAQ
Sometimes called at payout, the point after all the costs of exploring, drilling, producing, equipping, completing, and operating have been recouped from the sale of production from an oil or gas well. After Payout (US) - Westlaw Westlaw ? PracticalLaw Westlaw ? PracticalLaw
One example is where it is projected that the farmee will pay for 75% of the drilling costs, the parties may agree that upon meeting the earning barrier, the farmee will obtain a 75% interest in the acreage committed to the well, or even the entire contract area.
1. n. [Oil and Gas Business] When the election to convert the overriding royalty to working interest takes place, it is known as a back-in after payout (BIAPO).
What Is a Farmout? A farmout is the assignment of part or all of an oil, natural gas, or mineral interest to a third party for development. The interest may be in any agreed-upon form, such as exploration blocks or drilling acreage.
Back-In / Back-In Interest: a reversionary interest held by a party (generally pursuant to a Farmout, JOA, JDA, Lease or Assignment and Bill of Sale) that entitles the party to a specified share of the Working Interest once Payout occurs. The Book of Jargon®: Oil & Gas - Latham & Watkins LLP Latham & Watkins ? Upload ? Documents ? O... Latham & Watkins ? Upload ? Documents ? O... PDF
out agreement, the key agreement documenting a transaction whereby a third party agrees to acquire an interest in an upstream oil and gas asset (licence or other form of concession) from one or more of the current owners in return for performing certain work obligations, such as the acquisition of seismic, the ...
Business process outsourcing Business process outsourcing (BPO) alleviates the burden of back-office accounting work in upstream oil and gas, allowing you and your team to focus on what matters most ? promoting company growth and profitability. Business Process Outsourcing - Oil and Gas - IFS ifs.com ? customer-success ? upstream-oil-gas ifs.com ? customer-success ? upstream-oil-gas
In the oil and gas context, a carried interest is a fractional oil and gas interest that is not required to pay for drilling or operational expenses for a limited time (carry period). These expenses are paid by the other working interest owners (called co-tenants) of the property. Carried Interest (Oil and Gas) (US) - Westlaw westlaw.com ? Glossary ? PracticalLaw westlaw.com ? Glossary ? PracticalLaw