New Mexico Affidavit of Satisfaction of Drilling Obligation for Lessee's Compliance with Drilling Obligations Contained in A Lease

• Category: Oil Gas and Minerals - Affidavits
• State: Multi-State
• Control #: US-OG-188
• 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 executed by Affiant and placed of record in the county and state where the Lease is located as evidence that in the personal knowledge of Affiant, that the Lessee, has drilled wells on the Lands and has otherwise complied with all of the terms of the Lease and that the Lease is valid, in force and effect, as to all of the Lands. The New Mexico Affidavit of Satisfaction of Drilling Obligation is a legal document that confirms a lessee's compliance with the drilling obligations stated in a lease agreement. This affidavit serves as proof that the lessee has fulfilled their drilling obligations, as required by the lease agreement. There are several types of New Mexico Affidavit of Satisfaction of Drilling Obligation for Lessee's Compliance with Drilling Obligations Contained in A Lease. Some of these include: 1. Affidavit of Satisfaction of Drilling Obligation — Vertical Well: This affidavit is used when the lessee has successfully completed the drilling of a vertical well, adhering to the specific requirements specified in the lease agreement. 2. Affidavit of Satisfaction of Drilling Obligation — Horizontal Well: This affidavit is utilized when the lessee has fulfilled their drilling obligations by completing a horizontal well, as outlined in the terms of the lease agreement. 3. Affidavit of Satisfaction of Drilling Obligation — Multilateral Well: This affidavit is employed when the lessee has met their drilling obligations by successfully drilling a multilateral well, which involves multiple branches or laterals originating from a single well bore. 4. Affidavit of Satisfaction of Drilling Obligation — Re-Entry Well: This affidavit is used if the lessee has satisfied their drilling obligations by re-entering an existing well and successfully completing the required drilling activities specified in the lease agreement. The purpose of these affidavits is to provide a formal declaration that the lessee has fulfilled their drilling obligations, ensuring compliance with the terms and conditions of the lease agreement. Once signed and notarized, the affidavit serves as evidence that the lessee has met the required drilling obligations and may proceed with other activities related to the leased property. It is essential for all parties involved, including the lessee, lessor, and any relevant regulatory bodies, to have a clear understanding of the specific type of New Mexico Affidavit of Satisfaction of Drilling Obligation that applies to their situation. By adhering to the terms outlined in the appropriate affidavit, both parties can ensure legal compliance and avoid any potential conflicts or disputes regarding drilling obligations within the lease agreement.

The New Mexico Affidavit of Satisfaction of Drilling Obligation is a legal document that confirms a lessee's compliance with the drilling obligations stated in a lease agreement. This affidavit serves as proof that the lessee has fulfilled their drilling obligations, as required by the lease agreement. There are several types of New Mexico Affidavit of Satisfaction of Drilling Obligation for Lessee's Compliance with Drilling Obligations Contained in A Lease. Some of these include: 1. Affidavit of Satisfaction of Drilling Obligation — Vertical Well: This affidavit is used when the lessee has successfully completed the drilling of a vertical well, adhering to the specific requirements specified in the lease agreement. 2. Affidavit of Satisfaction of Drilling Obligation — Horizontal Well: This affidavit is utilized when the lessee has fulfilled their drilling obligations by completing a horizontal well, as outlined in the terms of the lease agreement. 3. Affidavit of Satisfaction of Drilling Obligation — Multilateral Well: This affidavit is employed when the lessee has met their drilling obligations by successfully drilling a multilateral well, which involves multiple branches or laterals originating from a single well bore. 4. Affidavit of Satisfaction of Drilling Obligation — Re-Entry Well: This affidavit is used if the lessee has satisfied their drilling obligations by re-entering an existing well and successfully completing the required drilling activities specified in the lease agreement. The purpose of these affidavits is to provide a formal declaration that the lessee has fulfilled their drilling obligations, ensuring compliance with the terms and conditions of the lease agreement. Once signed and notarized, the affidavit serves as evidence that the lessee has met the required drilling obligations and may proceed with other activities related to the leased property. It is essential for all parties involved, including the lessee, lessor, and any relevant regulatory bodies, to have a clear understanding of the specific type of New Mexico Affidavit of Satisfaction of Drilling Obligation that applies to their situation. By adhering to the terms outlined in the appropriate affidavit, both parties can ensure legal compliance and avoid any potential conflicts or disputes regarding drilling obligations within the lease agreement.