New Mexico Partial Release of Oil and Gas Lease As to Depth

• Category: Oil Gas and Minerals - Releases
• State: Multi-State
• Control #: US-OG-131
• Format: Word; Rich Text

Description

This form presupposes an oil and gas lease provides for a termination of the lease as to depths. It is prepared for execution by the lessee to release subsurface depths as provided for in a lease. A partial release of oil and gas lease as to depth in New Mexico refers to a legal agreement that allows the lessee or the operator to release a specific portion of the leased land from the original leasehold. This arrangement grants the lessee the right to explore and produce oil and gas resources at shallower depths while relinquishing the rights to the deeper regions of the leased premises. The New Mexico State Land Office governs the regulations and procedures for executing a partial release of oil and gas lease as to depth. These releases are important in cases where the lessee wants to limit their operations to specific strata or reservoirs, providing flexibility in exploration and production strategies. Keywords: New Mexico, partial release, oil and gas lease, depth, lessee, operator, leased land, exploration, production, shallower depths, relinquishing rights, deeper regions, State Land Office, regulations, procedures, strata, reservoirs, flexibility, exploration and production strategies. Different types of New Mexico partial releases of oil and gas lease as to depth: 1. Single Depth Release: This type of release permits the lessee to confine their operations solely to a specific depth interval, relinquishing all rights to access the shallower and deeper regions of the leasehold. 2. Multiple Depth Release: In this case, the lessee selectively releases certain depth zones while maintaining rights to other depths. It allows for more customized exploration and production plans, targeting specific reservoirs or geological formations. 3. Release by Formation: This release type enables the lessee to relinquish rights to a particular geological formation while retaining access to other formations within the leased acreage. It can be beneficial when the lessee identifies a non-productive or uneconomical formation that they wish to release. 4. Horizontal Release: A horizontal release allows the lessee to release the rights to explore and produce hydrocarbons horizontally within a certain depth range. This type of partial release is commonly used in shale or tight oil and gas plays, where horizontal drilling techniques are prevalent. Keywords: single depth release, multiple depth release, release by formation, horizontal release, exploration, production, customized plans, geological formations, targeted reservoirs, acreage, hydrocarbons, shale, tight oil, drilling techniques.

A partial release of oil and gas lease as to depth in New Mexico refers to a legal agreement that allows the lessee or the operator to release a specific portion of the leased land from the original leasehold. This arrangement grants the lessee the right to explore and produce oil and gas resources at shallower depths while relinquishing the rights to the deeper regions of the leased premises. The New Mexico State Land Office governs the regulations and procedures for executing a partial release of oil and gas lease as to depth. These releases are important in cases where the lessee wants to limit their operations to specific strata or reservoirs, providing flexibility in exploration and production strategies. Keywords: New Mexico, partial release, oil and gas lease, depth, lessee, operator, leased land, exploration, production, shallower depths, relinquishing rights, deeper regions, State Land Office, regulations, procedures, strata, reservoirs, flexibility, exploration and production strategies. Different types of New Mexico partial releases of oil and gas lease as to depth: 1. Single Depth Release: This type of release permits the lessee to confine their operations solely to a specific depth interval, relinquishing all rights to access the shallower and deeper regions of the leasehold. 2. Multiple Depth Release: In this case, the lessee selectively releases certain depth zones while maintaining rights to other depths. It allows for more customized exploration and production plans, targeting specific reservoirs or geological formations. 3. Release by Formation: This release type enables the lessee to relinquish rights to a particular geological formation while retaining access to other formations within the leased acreage. It can be beneficial when the lessee identifies a non-productive or uneconomical formation that they wish to release. 4. Horizontal Release: A horizontal release allows the lessee to release the rights to explore and produce hydrocarbons horizontally within a certain depth range. This type of partial release is commonly used in shale or tight oil and gas plays, where horizontal drilling techniques are prevalent. Keywords: single depth release, multiple depth release, release by formation, horizontal release, exploration, production, customized plans, geological formations, targeted reservoirs, acreage, hydrocarbons, shale, tight oil, drilling techniques.