Texas Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term

• Category: Oil Gas and Minerals - Affidavits
• State: Multi-State
• Control #: US-OG-187
• Format: Word; Rich Text

Description

An affidavit is statement of facts which is sworn to (or affirmed) before an officer who has authority to administer an oath (e.g. a notary public). This Affidavit is made for the purpose of giving notice that the Lease has been extended beyond its stated primary term in accordance with the terms of the Lease. The Texas Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term is a legal document that plays a crucial role in the oil and gas industry in Texas. This affidavit allows for the extension of an oil and gas lease beyond its primary term if certain production requirements are met. It serves as proof that the leased property is still being actively developed and that production of oil and gas is ongoing. The affidavit includes various essential details, including the lease agreement's primary term, the lease operator's name and contact information, and the identification of the leased property. It also requires specific information related to the production activities taking place on the property, such as the cumulative production quantities of oil, gas, and associated substances. By submitting the Texas Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term to the appropriate authorities, leaseholders can request an extension of the lease based on its productive status. This gives the leaseholder an opportunity to continue exploring and developing the resources present on the property, ensuring optimal utilization of natural resources in a responsible and efficient manner. Types of Texas Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term: 1. Standard Affidavit of Production: This type of affidavit is used when the lease operator can demonstrate a consistent and substantial level of production throughout the primary term. It requires detailed production data, including well names, production rates, and cumulative production volumes. 2. Conditional Affidavit of Production: This affidavit is utilized when production during the primary term has been intermittent or marginal and does not meet the requirements of a standard affidavit. It allows for a lease extension but may have additional stipulations, such as presenting a development plan to improve future production. 3. Shut-In Affidavit of Production: In circumstances where the lease operator is unable to produce oil or gas due to technical or economic reasons, the shut-in affidavit comes into play. This affidavit permits the temporary suspension of production while ensuring that the lease remains active. It typically requires the submission of supporting evidence, such as well maintenance records or economic justifications. In conclusion, the Texas Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term is a vital legal document for leaseholders in the oil and gas industry. It enables them to extend the lease by demonstrating ongoing production activity and compliance with state regulations. By carefully adhering to the requirements and providing accurate production data, leaseholders can ensure the continuation of their operations while maximizing the utilization of valuable natural resources.

The Texas Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term is a legal document that plays a crucial role in the oil and gas industry in Texas. This affidavit allows for the extension of an oil and gas lease beyond its primary term if certain production requirements are met. It serves as proof that the leased property is still being actively developed and that production of oil and gas is ongoing. The affidavit includes various essential details, including the lease agreement's primary term, the lease operator's name and contact information, and the identification of the leased property. It also requires specific information related to the production activities taking place on the property, such as the cumulative production quantities of oil, gas, and associated substances. By submitting the Texas Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term to the appropriate authorities, leaseholders can request an extension of the lease based on its productive status. This gives the leaseholder an opportunity to continue exploring and developing the resources present on the property, ensuring optimal utilization of natural resources in a responsible and efficient manner. Types of Texas Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term: 1. Standard Affidavit of Production: This type of affidavit is used when the lease operator can demonstrate a consistent and substantial level of production throughout the primary term. It requires detailed production data, including well names, production rates, and cumulative production volumes. 2. Conditional Affidavit of Production: This affidavit is utilized when production during the primary term has been intermittent or marginal and does not meet the requirements of a standard affidavit. It allows for a lease extension but may have additional stipulations, such as presenting a development plan to improve future production. 3. Shut-In Affidavit of Production: In circumstances where the lease operator is unable to produce oil or gas due to technical or economic reasons, the shut-in affidavit comes into play. This affidavit permits the temporary suspension of production while ensuring that the lease remains active. It typically requires the submission of supporting evidence, such as well maintenance records or economic justifications. In conclusion, the Texas Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term is a vital legal document for leaseholders in the oil and gas industry. It enables them to extend the lease by demonstrating ongoing production activity and compliance with state regulations. By carefully adhering to the requirements and providing accurate production data, leaseholders can ensure the continuation of their operations while maximizing the utilization of valuable natural resources.