Often times a memorandum is placed of record rather than the complete oil and gas lease. If that unrecorded lease is amended, the amendment will probably not be recorded. This notice, once filed of record, is constructive notice that the original lease has been amended, and places any party dealing with the lease, on notice, that there has been an amendment to the original lease.
A North Dakota Notice of Amendment to Oil and Gas Lease is a legal document used to notify parties involved in an oil and gas lease agreement about changes made to the original lease terms. This notice is specifically used when the initial lease was not recorded and a separate Memorandum or Notice of Lease had been placed on record. In North Dakota, there may be different types of Notice of Amendment to Oil and Gas Lease where the prior lease was unrecorded and a Memorandum or Notice of Lease was placed on record. These variations could include: 1. Partial Amendment: This type of amendment is used when only certain terms or provisions of the original lease need modification. It specifies which sections or clauses are being altered and provides the new terms that will replace the original ones. 2. Extension of Lease Term: In some cases, the lessee may wish to extend the duration of the lease beyond its original end date. An amendment notice would be filed to communicate the agreed-upon extension period and any revised terms related to the extended lease. 3. Change in Royalty Percentage: If the parties involved agree to modify the royalty percentage paid to the lessor, a Notice of Amendment would need to be filed. This notice would specify the new royalty rate and any other related changes to the initial lease. 4. Addition or Removal of Leasehold Acreage: When there is a need to add or remove certain portions of the leased land, an amendment notice would be filed. This document would provide details regarding the revised leasehold acreage and any consequent adjustments to the lease terms. 5. Modification of Surface Use Provisions: If changes in the surface use provisions, such as access rights, easements, or surface damage compensation, are required, an amendment notice must be filed to reflect these modifications accurately. It is important to consult with a legal professional familiar with North Dakota's oil and gas laws to ensure all necessary requirements are met when preparing a Notice of Amendment to Oil and Gas Lease. Properly documenting any changes to an existing lease can help prevent disputes and provide clarity for all parties involved.
