New Mexico 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 New Mexico Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term is a legal document used in the state of New Mexico to extend an oil and gas lease beyond the primary term. This affidavit is necessary when the lease is set to expire, but the lessee wants to continue operating on the land to extract oil and gas resources. Keywords: New Mexico, Affidavit of Production, Extend, Oil and Gas Lease, Primary Term This affidavit is required to be submitted to the appropriate regulatory body in New Mexico, such as the State Land Office or the Bureau of Land Management. It serves as proof that the lessee has been actively producing oil and gas from the leased land during the primary term. The purpose of the affidavit is to demonstrate to the regulatory body that the lessee is making sufficient efforts to extract resources and that the lease should be extended beyond its primary term. It includes details about the production activities, such as the amount of oil and gas produced, the dates of production, and any other relevant information. The New Mexico Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term can be filed by both individual leaseholders and companies operating in the oil and gas industry. It is a crucial step in maintaining the legal right to operate on the leased land and continue production activities. Types of New Mexico Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term: 1. Individual Lessee's Affidavit of Production: This type of affidavit is filed by an individual leaseholder to extend the oil and gas lease beyond the primary term. It contains specific information about the lessee's production activities. 2. Company's Affidavit of Production: This type of affidavit is filed by a company operating in the oil and gas industry to extend the lease beyond the primary term. It includes details about the company's production activities, such as the number of wells operated and the total production volume. 3. Joint Lessees' Affidavit of Production: In cases where multiple parties hold an interest in the oil and gas lease, a joint affidavit of production may be required. This affidavit is filed collectively by all the leaseholders involved, providing a consolidated overview of the production activities. It is essential to ensure that the New Mexico Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term is accurately completed and submitted within the specified timeframe. Failure to do so may result in the lease being terminated or not extended, potentially requiring the lessee to cease operations on the land.

The New Mexico Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term is a legal document used in the state of New Mexico to extend an oil and gas lease beyond the primary term. This affidavit is necessary when the lease is set to expire, but the lessee wants to continue operating on the land to extract oil and gas resources. Keywords: New Mexico, Affidavit of Production, Extend, Oil and Gas Lease, Primary Term This affidavit is required to be submitted to the appropriate regulatory body in New Mexico, such as the State Land Office or the Bureau of Land Management. It serves as proof that the lessee has been actively producing oil and gas from the leased land during the primary term. The purpose of the affidavit is to demonstrate to the regulatory body that the lessee is making sufficient efforts to extract resources and that the lease should be extended beyond its primary term. It includes details about the production activities, such as the amount of oil and gas produced, the dates of production, and any other relevant information. The New Mexico Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term can be filed by both individual leaseholders and companies operating in the oil and gas industry. It is a crucial step in maintaining the legal right to operate on the leased land and continue production activities. Types of New Mexico Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term: 1. Individual Lessee's Affidavit of Production: This type of affidavit is filed by an individual leaseholder to extend the oil and gas lease beyond the primary term. It contains specific information about the lessee's production activities. 2. Company's Affidavit of Production: This type of affidavit is filed by a company operating in the oil and gas industry to extend the lease beyond the primary term. It includes details about the company's production activities, such as the number of wells operated and the total production volume. 3. Joint Lessees' Affidavit of Production: In cases where multiple parties hold an interest in the oil and gas lease, a joint affidavit of production may be required. This affidavit is filed collectively by all the leaseholders involved, providing a consolidated overview of the production activities. It is essential to ensure that the New Mexico Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term is accurately completed and submitted within the specified timeframe. Failure to do so may result in the lease being terminated or not extended, potentially requiring the lessee to cease operations on the land.