This lease rider form may be used when you are involved in a lease transaction, and have made the decision to utilize the form of Oil and Gas Lease presented to you by the Lessee, and you want to include additional provisions to that Lease form to address specific concerns you may have, or place limitations on the rights granted the Lessee in the “standard” lease form.
New York Taking or Marketing Royalty Oil and Gas in Kind is a process wherein the state of New York manages the collection and marketing of oil and gas royalties through physical commodities rather than cash payments. This approach allows the state to directly deal with the extraction and monetization of natural resources. There are two main types of New York Taking or Marketing Royalty Oil and Gas in Kind: 1. Crude Oil and Natural Gas Liquids (GLS): This type involves the collection and marketing of crude oil and its by-products, which are known as natural gas liquids. Crude oil and GLS are extracted from the state's oil and gas fields and are then transported to processing facilities for further refinement. The processed products are then sold in various markets, domestically and internationally, generating revenue for the state. 2. Natural Gas: The second type of New York Taking or Marketing Royalty Oil and Gas in Kind focuses specifically on natural gas, which is extracted from underground reserves. The collected gas undergoes processing, including separating impurities and compressing it for transportation. The state then markets and sells the natural gas to various buyers, such as industrial users, power plants, or even exports it to neighboring states. By implementing New York Taking or Marketing Royalty Oil and Gas in Kind, the state aims to maximize the value of its natural resources and ensure fair compensation for the extraction companies. This system also allows for greater control over the quality, quantity, and pricing of oil and gas, enabling the state to further support its economy and energy infrastructure. Keywords: New York, Taking, Marketing, Royalty, Oil, Gas, In Kind, Crude Oil, Natural Gas Liquids, GLS, Natural Gas, Extraction, Monetization, Processing facilities, Revenue generation, Refinement, Impurities, Compression, Buyers, Industrial users, Power plants, Exports, Economy, Energy infrastructure.
