Virginia Affidavit of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment

• Category: Oil Gas and Minerals - Affidavits
• State: Multi-State
• Control #: US-OG-008
• Format: Word; Rich Text

Description

As evidnce that an oil and gas lease has expired, a mineral owner may elect to complete and file of record an affidavit of this type. Virginia Affidavit of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment is a legal document used in the state of Virginia to declare the cessation of production and plugging of an oil or gas well, along with the specification of the last royalty payment date. This affidavit is essential in the oil and gas industry as it ensures compliance with state regulations and provides a record of the well's status. Keywords: Virginia, Affidavit, Cessation of Production, Plugging of Well, Last Royalty Payment, Oil and Gas, State Regulations. Types of Virginia Affidavit of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment: 1. Standard Affidavit of Cessation: This type of affidavit is used when a well has ceased production and should be plugged as per state regulations. It specifies the date when the last royalty payment was made, ensuring that all financial obligations have been fulfilled before the well is closed. 2. Affidavit of Cessation with Outstanding Royalty Payment: In certain cases, there might be outstanding royalty payments pending when a well is required to be plugged. This type of affidavit is used to acknowledge the cessation of production and plugging of the well while also documenting the remaining unpaid royalty amount. The operator must provide a timeline for the settlement of these outstanding payments. 3. Affidavit of Cessation for Temporary Shutdown: This variation of the affidavit is utilized when there is a temporary halt in production due to maintenance, repairs, or regulatory compliance issues. It specifies the duration of the shutdown and the expected date of resumption of production, as well as the last royalty payment date before the temporary shutdown. 4. Affidavit of Cessation for Permanently Abandoned Well: When a well is permanently abandoned due to depleted resources, operational inefficiency, or environmental concerns, this affidavit is used to declare the cessation of production and the need for permanent plugging. It includes the date of the last royalty payment and provides evidence of compliance with state requirements regarding permanent well closure. In conclusion, the Virginia Affidavit of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment is a crucial document in the oil and gas industry. It ensures compliance with state regulations and serves as a record of the well's status, whether it is temporarily shut down, permanently abandoned, or requires outstanding royalty payments to be settled.

Virginia Affidavit of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment is a legal document used in the state of Virginia to declare the cessation of production and plugging of an oil or gas well, along with the specification of the last royalty payment date. This affidavit is essential in the oil and gas industry as it ensures compliance with state regulations and provides a record of the well's status. Keywords: Virginia, Affidavit, Cessation of Production, Plugging of Well, Last Royalty Payment, Oil and Gas, State Regulations. Types of Virginia Affidavit of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment: 1. Standard Affidavit of Cessation: This type of affidavit is used when a well has ceased production and should be plugged as per state regulations. It specifies the date when the last royalty payment was made, ensuring that all financial obligations have been fulfilled before the well is closed. 2. Affidavit of Cessation with Outstanding Royalty Payment: In certain cases, there might be outstanding royalty payments pending when a well is required to be plugged. This type of affidavit is used to acknowledge the cessation of production and plugging of the well while also documenting the remaining unpaid royalty amount. The operator must provide a timeline for the settlement of these outstanding payments. 3. Affidavit of Cessation for Temporary Shutdown: This variation of the affidavit is utilized when there is a temporary halt in production due to maintenance, repairs, or regulatory compliance issues. It specifies the duration of the shutdown and the expected date of resumption of production, as well as the last royalty payment date before the temporary shutdown. 4. Affidavit of Cessation for Permanently Abandoned Well: When a well is permanently abandoned due to depleted resources, operational inefficiency, or environmental concerns, this affidavit is used to declare the cessation of production and the need for permanent plugging. It includes the date of the last royalty payment and provides evidence of compliance with state requirements regarding permanent well closure. In conclusion, the Virginia Affidavit of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment is a crucial document in the oil and gas industry. It ensures compliance with state regulations and serves as a record of the well's status, whether it is temporarily shut down, permanently abandoned, or requires outstanding royalty payments to be settled.