This is a provision for an Operating Agreement that concerns the Assignment of rights to an obligatory well. It provides the assignment options if any proposed operations are necessary to maintain a Lease covered by the Agreement in force or an agreement to earn a lease(s) which would otherwise expire unless operations are conducted.
Puerto Rico Obligatory Well
Category:
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Multi-State
Control #:
US-OG-710
Format:
Word;
Rich Text
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FAQ
On January 4, 2017, Puerto Rico's new representative to Congress pushed a bill that would ratify statehood by 2025. On June 11, 2017, another non-binding referendum was held where 97.7 percent voted for the statehood option.
Puerto Rico became a U.S. territory after the 1898 Spanish-American War, and in 1917 the island's residents were granted U.S. citizenship by the Jones-Shafroth Act, just five years after Arizona and New Mexico were granted statehood.
Puerto Rico is an unincorporated territory of the United States. Most but not all federal laws apply to Puerto Rico. In addition to the U.S. Constitution, which is the supreme law of the U.S., federal laws include statutes that are periodically codified in the U.S. Code.
Benefits of statehood include an additional $10 billion per year in federal funds, the right to vote in presidential elections, higher Social Security and Medicare benefits, and a right for its government agencies and municipalities to file for bankruptcy.
Key Provisions of the Puerto Rico Status Act Authorizes a federally sponsored plebiscite to resolve Puerto Rico's political status. Specifies and defines Puerto Rico's non-territorial status options: Independence, Sovereignty in Free Association with the United States, and Statehood.
Puerto Rico has only three main natural sources of freshwater: groundwater, surface water, and desalinated water.
This bill is a commonsense compromise that would ensure Puerto Ricans are no longer relegated to second-class citizenship and are granted the long overdue right to self-determination,? said Murphy. ?The people of Puerto Rico deserve the chance to decide their own destiny ? whatever that may be,? said Schatz.
The Puerto Rico Statehood Admission Act, H.R. 4901, was a bill introduced during the 116th United States Congress. The intention of the bill is to grant Puerto Rico, an unincorporated territory of the United States, admission into the Union as a state.