Rhode Island Release of Call on Production

State:
Multi-State
Control #:
US-OG-560
Format:
Word; 
Rich Text
Instant download

Description

This is a form of a Release of Call on Production. Rhode Island Release of Call on Production is a legal document used in the state of Rhode Island to release a call on production, which refers to the right to receive a share of profits from oil, gas, or mineral exploration and production activities on a property. This document is commonly used in the context of energy and natural resource development. In Rhode Island, there are primarily two types of Release of Call on Production: 1. Voluntary Release of Call on Production: This type of release is executed when the party holding the call on production voluntarily relinquishes their claim to the profits or royalties from the production activities. It is typically done when the party receiving the release has negotiated a settlement, compensation, or an alternative arrangement to satisfy their claim. 2. Court-Ordered Release of Call on Production: This type of release is obtained through a legal process when a court orders the party holding the call on production to release their claim. It usually occurs when the court determines that the call on production is invalid, unjust, or has been fulfilled according to the terms of the underlying agreement. Keywords: Rhode Island, Release of Call on Production, legal document, share of profits, oil, gas, mineral exploration, production activities, energy, natural resource development, voluntary release, court-ordered release, royalties, settlement, compensation, invalid claim, court process, underlying agreement.

Rhode Island Release of Call on Production is a legal document used in the state of Rhode Island to release a call on production, which refers to the right to receive a share of profits from oil, gas, or mineral exploration and production activities on a property. This document is commonly used in the context of energy and natural resource development. In Rhode Island, there are primarily two types of Release of Call on Production: 1. Voluntary Release of Call on Production: This type of release is executed when the party holding the call on production voluntarily relinquishes their claim to the profits or royalties from the production activities. It is typically done when the party receiving the release has negotiated a settlement, compensation, or an alternative arrangement to satisfy their claim. 2. Court-Ordered Release of Call on Production: This type of release is obtained through a legal process when a court orders the party holding the call on production to release their claim. It usually occurs when the court determines that the call on production is invalid, unjust, or has been fulfilled according to the terms of the underlying agreement. Keywords: Rhode Island, Release of Call on Production, legal document, share of profits, oil, gas, mineral exploration, production activities, energy, natural resource development, voluntary release, court-ordered release, royalties, settlement, compensation, invalid claim, court process, underlying agreement.

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Rhode Island Release of Call on Production