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.
Oregon Reservation of A Call on, Or Preferential Right to Purchase Production by Lessor In the state of Oregon, a Reservation of a Call on, or Preferential Right to Purchase Production by Lessor is a legal provision that grants a lessor the right to purchase any oil, gas, or other mineral production from a property they have leased, before it can be sold to any other third party. This reservation ensures that the lessor, often the original owner of the property, retains the opportunity to benefit from any productive resources present on their land. The Reservation of a Call on, or Preferential Right to Purchase Production by Lessor can be categorized into two main types: 1. Right of First Refusal: This type of reservation gives the lessor the first opportunity to purchase the production from the property on the same terms as an offer received by the lessor from a third party. The lessor has the right to match the offer and buy the production before it can be sold elsewhere. 2. Preemptive Right: In this type of reservation, the lessor has the right to purchase the production from the property at a price determined by a predetermined formula or a fair market value. The preemptive right ensures that the lessor has the option to acquire the production before it can be sold to any other party. Keywords: Oregon, Reservation of a Call on, Preferential Right to Purchase Production by Lessor, oil, gas, mineral production, lessor, property, rights, right of first refusal, preemptive right.Oregon Reservation of A Call on, Or Preferential Right to Purchase Production by Lessor In the state of Oregon, a Reservation of a Call on, or Preferential Right to Purchase Production by Lessor is a legal provision that grants a lessor the right to purchase any oil, gas, or other mineral production from a property they have leased, before it can be sold to any other third party. This reservation ensures that the lessor, often the original owner of the property, retains the opportunity to benefit from any productive resources present on their land. The Reservation of a Call on, or Preferential Right to Purchase Production by Lessor can be categorized into two main types: 1. Right of First Refusal: This type of reservation gives the lessor the first opportunity to purchase the production from the property on the same terms as an offer received by the lessor from a third party. The lessor has the right to match the offer and buy the production before it can be sold elsewhere. 2. Preemptive Right: In this type of reservation, the lessor has the right to purchase the production from the property at a price determined by a predetermined formula or a fair market value. The preemptive right ensures that the lessor has the option to acquire the production before it can be sold to any other party. Keywords: Oregon, Reservation of a Call on, Preferential Right to Purchase Production by Lessor, oil, gas, mineral production, lessor, property, rights, right of first refusal, preemptive right.
