Puerto Rico Continuous Development, Retained Acreage, and Depth Limitations

State:
Multi-State
Control #:
US-OG-785
Format:
Word; 
Rich Text
Instant download

Description

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.

Free preview
  • Preview Continuous Development, Retained Acreage, and Depth Limitations
  • Preview Continuous Development, Retained Acreage, and Depth Limitations
  • Preview Continuous Development, Retained Acreage, and Depth Limitations
  • Preview Continuous Development, Retained Acreage, and Depth Limitations
  • Preview Continuous Development, Retained Acreage, and Depth Limitations
  • Preview Continuous Development, Retained Acreage, and Depth Limitations

How to fill out Continuous Development, Retained Acreage, And Depth Limitations?

Discovering the right authorized papers template could be a have difficulties. Needless to say, there are tons of themes available online, but how will you discover the authorized kind you require? Utilize the US Legal Forms web site. The assistance delivers a large number of themes, such as the Puerto Rico Continuous Development, Retained Acreage, and Depth Limitations, that you can use for organization and private demands. All of the types are checked by pros and meet up with federal and state specifications.

If you are previously registered, log in for your profile and click on the Acquire switch to get the Puerto Rico Continuous Development, Retained Acreage, and Depth Limitations. Utilize your profile to search from the authorized types you possess acquired formerly. Go to the My Forms tab of your own profile and obtain one more backup of the papers you require.

If you are a fresh customer of US Legal Forms, allow me to share easy recommendations that you should adhere to:

  • First, be sure you have selected the proper kind for your city/area. You may examine the form while using Preview switch and look at the form description to guarantee it is the right one for you.
  • In the event the kind is not going to meet up with your preferences, take advantage of the Seach discipline to obtain the proper kind.
  • Once you are certain that the form is acceptable, click the Purchase now switch to get the kind.
  • Select the pricing plan you would like and type in the necessary details. Create your profile and purchase your order using your PayPal profile or credit card.
  • Opt for the submit formatting and obtain the authorized papers template for your gadget.
  • Complete, edit and printing and signal the obtained Puerto Rico Continuous Development, Retained Acreage, and Depth Limitations.

US Legal Forms is the most significant collection of authorized types that you can find various papers themes. Utilize the company to obtain expertly-produced paperwork that adhere to state specifications.

Form popularity

FAQ

The point of a retained-acreage provision is to be able to seek a new opportunity to lease unworked land to a different lessee, one who might do something productive with it. A Pugh clause is a negotiated provision in favor of the lessor. Pugh clauses modify pooling/unitization rights.

A phrase (usually contained in a Pugh clause in an oil & gas lease) that terminates the lease after the primary term as to all formations below a particular depth typically defined as the stratigraphic equivalent of the base of the deepest producing formation in the unit.

A clause in an oil and gas lease establishing the acreage around a producing well or pooled unit that the lessee is allowed to retain after termination of the lease if certain conditions are met. There is no standard retained-acreage clause, and these clauses vary by lease.

A Pugh Clause is enforced to ensure that a lessee can be prevented from declaring all lands under an oil and gas lease as being held by production. This remains true even when production only takes place on a fraction of the property.

A Pugh Clause is enforced to ensure that a lessee can be prevented from declaring all lands under an oil and gas lease as being held by production. This remains true even when production only takes place on a fraction of the property.

The Pugh Clause limits the rights of the lessee to hold only particular depths or amounts of leased property in a pooled unit after the expiration of the primary term. In Texas, production from any portion of a leased tract is deemed production from the entire tract. Pugh clause negates this general rule.

Retained Acreage ? A clause that provides that a lease will continue after the expiration of the primary term as to a certain number of acres associated with each of the wells drilled under the lease.

?Many land professionals are confused about what is a vertical and what is a horizontal pugh clause. LEGALLY ? a vertical pugh clause is one where all acreage outside of the well/unit boundaries must be released. LEGALLY ? a horizontal pugh clause is one where you must release acreage below a certain depth.

Trusted and secure by over 3 million people of the world’s leading companies

Puerto Rico Continuous Development, Retained Acreage, and Depth Limitations