A South Carolina Partial Release of Oil and Gas Lease As to Depth refers to a legal document that allows the lessor or lessee to release a portion of the leased area from the original lease agreement, specifically pertaining to depth restrictions related to oil and gas exploration and production. This release document grants the involved parties the ability to modify the lease agreement in order to explore and extract resources at different depths within the leased property. Key terms related to South Carolina Partial Release of Oil and Gas Lease As to Depth: 1. South Carolina: Refers to the southeastern state in the United States where the partial release is applicable. 2. Partial Release: Denotes the action of releasing a specific portion of the leased area, while keeping the remaining portion intact. 3. Oil and Gas Lease: A legal contract between the lessor (landowner) and the lessee (exploration/production company) allowing the lessee to explore and extract oil and gas resources from the leased property. 4. Depth: Refers to the vertical measurement relating to the exploration and production activities. In this context, it represents the restriction or modification of depths allowed for oil and gas operations. 5. Release of Lease: The legal procedure that allows the lessor or lessee to terminate or amend specific terms and conditions of the original lease agreement. 6. Exploration: The act of searching for oil and gas resources within the leased property using various methods such as seismic surveys, geological assessments, and exploratory drilling. 7. Extraction/Production: The process of extracting oil and gas resources from the subsurface reservoirs and bringing them to the surface for commercial use. 8. Property/Leased Area: The specific land or area that is subject to the oil and gas lease agreement. 9. Modification: The act of altering or amending specific terms or clauses within the lease agreement. 10. Lessee: The company or party that holds the rights to explore and produce oil and gas resources on the leased property. 11. Lessor: The individual or entity that grants the lessee the rights to explore and produce oil and gas resources on their land. Different types of South Carolina Partial Release of Oil and Gas Lease As to Depth may include specific depth-related variations, such as: 1. Deep Depth Release: A partial release that pertains to depths beyond a certain measurement, allowing the lessee to explore and produce resources in deeper formations. 2. Shallow Depth Release: A partial release that pertains to restricting exploration and production activities to shallower depths as determined by the lessor. 3. Vertical Depth Release: A partial release that specifies the modification of certain depth restrictions in only the vertical dimension, maintaining limitations in other aspects (e.g., horizontal depths). 4. Multi-Level Depth Release: A partial release that allows exploration and production activities within a range of specified depths, granting flexibility within multiple depth intervals. It is important to consult legal professionals and review specific lease agreements to ensure accurate and current information regarding South Carolina Partial Release of Oil and Gas Lease As to Depth.
South Carolina Partial Release of Oil and Gas Lease As to Depth
Category:
State:
Multi-State
Control #:
US-OG-131
Format:
Word;
Rich Text
Instant download
Description
This form presupposes an oil and gas lease provides for a termination of the lease as to depths. It is prepared for execution by the lessee to release subsurface depths as provided for in a lease.
A South Carolina Partial Release of Oil and Gas Lease As to Depth refers to a legal document that allows the lessor or lessee to release a portion of the leased area from the original lease agreement, specifically pertaining to depth restrictions related to oil and gas exploration and production. This release document grants the involved parties the ability to modify the lease agreement in order to explore and extract resources at different depths within the leased property. Key terms related to South Carolina Partial Release of Oil and Gas Lease As to Depth: 1. South Carolina: Refers to the southeastern state in the United States where the partial release is applicable. 2. Partial Release: Denotes the action of releasing a specific portion of the leased area, while keeping the remaining portion intact. 3. Oil and Gas Lease: A legal contract between the lessor (landowner) and the lessee (exploration/production company) allowing the lessee to explore and extract oil and gas resources from the leased property. 4. Depth: Refers to the vertical measurement relating to the exploration and production activities. In this context, it represents the restriction or modification of depths allowed for oil and gas operations. 5. Release of Lease: The legal procedure that allows the lessor or lessee to terminate or amend specific terms and conditions of the original lease agreement. 6. Exploration: The act of searching for oil and gas resources within the leased property using various methods such as seismic surveys, geological assessments, and exploratory drilling. 7. Extraction/Production: The process of extracting oil and gas resources from the subsurface reservoirs and bringing them to the surface for commercial use. 8. Property/Leased Area: The specific land or area that is subject to the oil and gas lease agreement. 9. Modification: The act of altering or amending specific terms or clauses within the lease agreement. 10. Lessee: The company or party that holds the rights to explore and produce oil and gas resources on the leased property. 11. Lessor: The individual or entity that grants the lessee the rights to explore and produce oil and gas resources on their land. Different types of South Carolina Partial Release of Oil and Gas Lease As to Depth may include specific depth-related variations, such as: 1. Deep Depth Release: A partial release that pertains to depths beyond a certain measurement, allowing the lessee to explore and produce resources in deeper formations. 2. Shallow Depth Release: A partial release that pertains to restricting exploration and production activities to shallower depths as determined by the lessor. 3. Vertical Depth Release: A partial release that specifies the modification of certain depth restrictions in only the vertical dimension, maintaining limitations in other aspects (e.g., horizontal depths). 4. Multi-Level Depth Release: A partial release that allows exploration and production activities within a range of specified depths, granting flexibility within multiple depth intervals. It is important to consult legal professionals and review specific lease agreements to ensure accurate and current information regarding South Carolina Partial Release of Oil and Gas Lease As to Depth.
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