This form of release is used when Lessor releases, relinquishes, and quit claims to the present owners of the Lease all of a Production Payment interest. From and after the Effective Date, the Production Payment interest in the Lease is deemed to have terminated and is no longer a burden on the leasehold estate created by the Lease.
The New Mexico Release of Production Payment by Lessor refers to a legal document that allows the lessor (individual or entity) of a mineral or oil and gas lease in New Mexico to receive payment from the lessee (company or party operating the lease) based on the production of resources on the leased property. This release empowers the lessor to collect their rightful share of the revenue generated from the extraction and sale of minerals, oil, or gas. Keywords: New Mexico, Release of Production Payment, Lessor, mineral lease, oil and gas lease, lessee, production, revenue, extraction, resources. Types of New Mexico Release of Production Payment by Lessor: 1. Oil and Gas Release of Production Payment by Lessor: This type of release specifically pertains to leases for the exploration and production of oil and gas resources in New Mexico. It enables the lessor to receive payment based on the amount of oil or gas extracted and sold by the lessee. 2. Mineral Release of Production Payment by Lessor: This form of release applies to leases involving the extraction and sale of various minerals, such as coal, limestone, gypsum, or precious metals, in New Mexico. It allows the lessor to collect payment linked to the quantity and value of minerals produced. 3. Renewable Energy Release of Production Payment by Lessor: In recent years, New Mexico has promoted renewable energy initiatives, including wind and solar power. This type of release applies specifically to leases involving the generation and sale of electricity from renewable sources. The lessor is entitled to payment based on the electricity production from these alternative energy sources. 4. Geothermal Release of Production Payment by Lessor: Geothermal energy is another valuable resource in New Mexico. This type of release pertains to leases involving the extraction and utilization of geothermal energy for electricity generation or direct heating purposes. The lessor can receive payment based on the kilowatt-hours or thermal energy produced from geothermal sources. Overall, the New Mexico Release of Production Payment by Lessor encompasses various types of leases related to natural resource extraction, ensuring that lessors receive their rightful share of revenue from the production and sale of minerals, oil, gas, renewable energy, or geothermal resources.The New Mexico Release of Production Payment by Lessor refers to a legal document that allows the lessor (individual or entity) of a mineral or oil and gas lease in New Mexico to receive payment from the lessee (company or party operating the lease) based on the production of resources on the leased property. This release empowers the lessor to collect their rightful share of the revenue generated from the extraction and sale of minerals, oil, or gas. Keywords: New Mexico, Release of Production Payment, Lessor, mineral lease, oil and gas lease, lessee, production, revenue, extraction, resources. Types of New Mexico Release of Production Payment by Lessor: 1. Oil and Gas Release of Production Payment by Lessor: This type of release specifically pertains to leases for the exploration and production of oil and gas resources in New Mexico. It enables the lessor to receive payment based on the amount of oil or gas extracted and sold by the lessee. 2. Mineral Release of Production Payment by Lessor: This form of release applies to leases involving the extraction and sale of various minerals, such as coal, limestone, gypsum, or precious metals, in New Mexico. It allows the lessor to collect payment linked to the quantity and value of minerals produced. 3. Renewable Energy Release of Production Payment by Lessor: In recent years, New Mexico has promoted renewable energy initiatives, including wind and solar power. This type of release applies specifically to leases involving the generation and sale of electricity from renewable sources. The lessor is entitled to payment based on the electricity production from these alternative energy sources. 4. Geothermal Release of Production Payment by Lessor: Geothermal energy is another valuable resource in New Mexico. This type of release pertains to leases involving the extraction and utilization of geothermal energy for electricity generation or direct heating purposes. The lessor can receive payment based on the kilowatt-hours or thermal energy produced from geothermal sources. Overall, the New Mexico Release of Production Payment by Lessor encompasses various types of leases related to natural resource extraction, ensuring that lessors receive their rightful share of revenue from the production and sale of minerals, oil, gas, renewable energy, or geothermal resources.
