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.
New Mexico Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term
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How to fill out Affidavit Of Production To Extend Oil And Gas Lease Beyond Primary Term?
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BUREAU OF LAND MANAGEMENT: The BLM New Mexico Field Office maintains information on mineral rights and has a public information room at 301 Dinosaur Trail, Santa Fe, NM 87508, (505) 954-2000, where that information can be researched.
A person or business that produces oil and gas must obtain an Oil and Gas Reporting Identification Number (OGRID). This is different from a Business Tax Identification Number. For information about obtaining an OGRID, please contact our Oil and Gas Bureau at (505) 827-0812.
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.
To transfer any rights to minerals successfully, follow these steps: The new owner has to acquire a copy of the deed for the site at a local courthouse in New Mexico. Review the deed to ensure it matches the description and to ensure that the so-called rights to any minerals are included in the property deed.
Who regulates the oil and gas exploration and production industry in New Mexico? Drilling and production on New Mexico State Trust Lands and on private lands is regulated by the New Mexico Oil Conservation Division.
The Agricultural Leasing Bureau manages over 3,500 leases on state trust land with 600-900 leases requiring renewals annually. The Bureau issues leases for livestock grazing and cropland production on 8.9 million acres.
