This lease rider form may be used when you are involved in a lease transaction, and have made the decision to utilize the form of Oil and Gas Lease presented to you by the Lessee, and you want to include additional provisions to that Lease form to address specific concerns you may have, or place limitations on the rights granted the Lessee in the standard lease form.
North Carolina Shut-In Gas Royalty
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Multi-State
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US-OG-824
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How to fill out Shut-In Gas Royalty?
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FAQ
To shut in a well means to make it not produce, so we'll start with a primer on production. When a well is ?producing? it means the well has been drilled, completed in a reservoir, and oil and/or gas is somehow moving up the wellbore and to the surface facility.
A clause in an oil & gas lease that allows a lessee to keep the lease in effect past the primary term by substituting payment of shut-in royalty for actual production.
What is the Pugh clause in an oil and gas lease? A Pugh Clause is enforced to ensure that a lessee can be prevented from declaring all lands under an oil and gas lease as being held by production. This remains true even when production only takes place on a fraction of the property.
A phrase (usually contained in a Pugh clause in an oil & gas lease) that terminates the lease after the primary term as to all formations below a particular depth typically defined as the stratigraphic equivalent of the base of the deepest producing formation in the unit.
A royalty is the percentage of revenue paid to the federal government by energy companies from the sale of oil, gas, or coal extracted from the nation's public lands. The current royalty rate officially charged for oil, gas, and coal drilled or mined from U.S. public lands is 12.5 percent.
The Pugh Clause ? A clause in the Oil and Gas Lease which modifies usual pooling language to provide that drilling operations on or production from a pooled unit will not preserve the whole lease.
If there is production sufficient to preserve all or part of the lease at that one moment, the acreage is retained and not evaluated again. Conversely, under ?rolling? Pugh clauses, ?rolling determinations? following the primary term are to be made whenever any operations or production ceases.
An example of a Surface Area Pugh Clause: ?Production from or operations on a pooled unit or units including a portion or portions of the leased premises will maintain this Lease in force only as to the acreage included in the unit or units.