Nebraska Partial Release of Oil and Gas Lease for Multiple Lessees is a legal document that allows the partial release of a portion of the leased land from an oil and gas lease agreement in the state of Nebraska. This document is utilized when there are multiple lessees involved in the lease and when it is necessary to release a particular portion of the leased land from the agreement. There are two main types of Nebraska Partial Release of Oil and Gas Lease for Multiple Lessees: 1. Surface Release: This type of release is utilized when the lessees want to release only the surface rights of a portion of the leased land, while retaining the subsurface rights for oil and gas exploration. It is commonly used when the owner of the property intends to utilize the surface for other purposes, such as agriculture, residential development, or any other activity that requires land use. 2. Subsurface Release: On the other hand, a subsurface release is implemented when the lessees want to release only the subsurface rights of a certain portion of the leased land. This type of release is typically employed when the lessees have explored the area and determined that it is not economically viable or lacks the necessary resources for profitable oil and gas extraction. Keywords: Nebraska, Partial Release, Oil and Gas Lease, Multiple Lessees, legal document, leased land, surface release, subsurface release, surface rights, subsurface rights, oil and gas exploration, economically viable, profitable extraction.
Nebraska Partial Release of Oil and Gas Lease for Multiple Lessees
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Lessee, at its option, is hereby given the right to pool or combine the leased premises or any portion thereof as to oil and gas, or either of them with any other land, lease or leases in the immediate vicinity thereof to the extent hereinafter stipulated, when it is necessary or advisable to do so in order to properly ...
RELEASE: releases of property rights and/or other legal rights that the owner would otherwise be entitled to under law. RELEASE LEASE: releases of oil & gas lease rights that a person would otherwise be entitled to under law.
Pooling is the combining of all oil and gas interests in a drilling unit. In most cases, the owners of oil and gas rights in a unit sign a lease with a developer that allows for pooling. If there is more than one developer in a unit, they voluntarily agree on a development plan.
23. In general terms, the Pugh Clause provides that production from a unitized or pooled area located on or including a portion of the leased lands will not be sufficient to extend the primary term for the entire leasehold.
Partial Assignments: When an assignor conveys 100% record title interest in a portion of the lands in a lease, it creates a partial assignment. Partial assignments segregate the lease into two separate leases. Normally we assign a new lease number to the conveyed portion of the lease.
Pooling Order. ? A statement that the applicant made an attempt. to locate and come to agreement with all the owners in the pooled unit. ? That the applicant has the right to drill. ? The spacing order number, legal description, and.
Most modern oil and gas leases contain a ?pooling clause? which authorizes and allows the operator to pool the leased acreage into a production unit.
Declaration of a Pooled Unit Such a document delineates what portions of the leases are included in a unit. It also places third parties on notice. ing to the terms of the leases, any production from the wells in the pooled unit must maintain underlying leases or portions if this is applicable.
