Pennsylvania Release of Production Payment Created by An Assignment

State:
Multi-State
Control #:
US-OG-554
Format:
Word; 
Rich Text
Instant download

Description

This is a form of Release of a Production Payment (Created by An Assignment).

How to fill out Release Of Production Payment Created By An Assignment?

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FAQ

(1) The term production payment means, in general, a right to a specified share of the production from mineral in place (if, as, and when produced), or the proceeds from such production. Such right must be an economic interest in such mineral in place.

A quick definition of production payment: A production payment is a type of agreement in the oil and gas industry where a person or company receives a share of the oil and gas produced from a property. This share is given without having to pay for the costs of production.

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Pennsylvania Release of Production Payment Created by An Assignment