Minnesota Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term

• Category: Oil Gas and Minerals - Affidavits
• State: Multi-State
• Control #: US-OG-187
• Format: Word; Rich Text

Description

An affidavit is statement of facts which is sworn to (or affirmed) before an officer who has authority to administer an oath (e.g. a notary public). This Affidavit is made for the purpose of giving notice that the Lease has been extended beyond its stated primary term in accordance with the terms of the Lease. The Minnesota Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term is a legal document used in the state of Minnesota that allows the extension of an oil and gas lease beyond its primary term. This affidavit is specifically designed for situations where the lease includes provisions for extension based on continued production. The purpose of this affidavit is to provide proof of the ongoing production of oil and gas on the leased property, demonstrating that the lease should be extended beyond its initial primary term. It serves as a verification that the lessee has met the requirements for extension as specified in the lease agreement. By filing this affidavit with the appropriate authorities, the lessee can effectively extend the lease term, securing the rights to continue oil and gas production on the property. This is beneficial for both the lessee and the lessor, as it ensures the continued production of valuable resources and maintains the parties' financial and contractual obligations. It is important to note that there may be different variations or types of the Minnesota Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term, depending on the specific requirements and provisions within individual lease agreements. These variations may include additional clauses or fields for providing specific production data or other relevant information. Factors such as the lease duration, minimum production thresholds, and any additional terms outlined in the lease agreement can influence the specific content and requirements of the affidavit. Therefore, it is crucial to refer to the lease agreement and consult with legal professionals to accurately prepare and complete the Minnesota Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term, tailored to the unique circumstances of each lease. In summary, the Minnesota Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term is a crucial legal document used to extend an oil and gas lease in Minnesota by providing evidence of ongoing production. Its use ensures compliance with the terms outlined in the lease agreement, allowing the lessee to continue their operations, while also protecting the lessor's rights and interests.

The Minnesota Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term is a legal document used in the state of Minnesota that allows the extension of an oil and gas lease beyond its primary term. This affidavit is specifically designed for situations where the lease includes provisions for extension based on continued production. The purpose of this affidavit is to provide proof of the ongoing production of oil and gas on the leased property, demonstrating that the lease should be extended beyond its initial primary term. It serves as a verification that the lessee has met the requirements for extension as specified in the lease agreement. By filing this affidavit with the appropriate authorities, the lessee can effectively extend the lease term, securing the rights to continue oil and gas production on the property. This is beneficial for both the lessee and the lessor, as it ensures the continued production of valuable resources and maintains the parties' financial and contractual obligations. It is important to note that there may be different variations or types of the Minnesota Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term, depending on the specific requirements and provisions within individual lease agreements. These variations may include additional clauses or fields for providing specific production data or other relevant information. Factors such as the lease duration, minimum production thresholds, and any additional terms outlined in the lease agreement can influence the specific content and requirements of the affidavit. Therefore, it is crucial to refer to the lease agreement and consult with legal professionals to accurately prepare and complete the Minnesota Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term, tailored to the unique circumstances of each lease. In summary, the Minnesota Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term is a crucial legal document used to extend an oil and gas lease in Minnesota by providing evidence of ongoing production. Its use ensures compliance with the terms outlined in the lease agreement, allowing the lessee to continue their operations, while also protecting the lessor's rights and interests.