Virgin Islands 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. The Virgin Islands Affidavit of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment is a legal document used in the Virgin Islands to formally declare the cessation of well production and the plugging of the well. This affidavit serves the purpose of notifying the relevant authorities and stakeholders that production has ceased and provides important information regarding the last date of royalty payment. The affidavit typically includes the following key details: 1. Contact Information: The affidavit will require the name, address, and contact information of the individual or entity submitting the affidavit. This ensures that the responsible party can be reached for any necessary communication. 2. Well Information: The document will require precise details about the well, including its location, identification number, and any other relevant identifiers. This information helps in accurately identifying the specific well in question. 3. Cessation of Production: The affidavit will include a clear declaration of the cessation of production from the well. This indicates that no further extraction or production activities are taking place in the well. 4. Plugging Details: The document will specify the method employed for plugging the well. It may include information on the plugging materials used, the depth at which the well was plugged, and any other pertinent details necessary to ensure compliance with regulatory requirements. 5. Date of Last Royalty Payment: One crucial aspect of this affidavit is the specification of the last date on which royalties were paid for the well. This provides an official record of the cessation of royalty payments and helps in maintaining accurate financial records. It is important to note that different types of Virgin Islands Affidavits of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment may exist depending on specific circumstances or variations in legal requirements. Some possible variations could include affidavits for different types of wells (e.g., oil wells, gas wells), affidavits for wells operated by different entities, or affidavits that incorporate additional reporting or documentation requirements. Ultimately, completing a Virgin Islands Affidavit of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment is a critical step in the regulatory process, ensuring compliance with local laws and regulations while also documenting the cessation of production activities and the last date of royalty payment for a well in the Virgin Islands.

The Virgin Islands Affidavit of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment is a legal document used in the Virgin Islands to formally declare the cessation of well production and the plugging of the well. This affidavit serves the purpose of notifying the relevant authorities and stakeholders that production has ceased and provides important information regarding the last date of royalty payment. The affidavit typically includes the following key details: 1. Contact Information: The affidavit will require the name, address, and contact information of the individual or entity submitting the affidavit. This ensures that the responsible party can be reached for any necessary communication. 2. Well Information: The document will require precise details about the well, including its location, identification number, and any other relevant identifiers. This information helps in accurately identifying the specific well in question. 3. Cessation of Production: The affidavit will include a clear declaration of the cessation of production from the well. This indicates that no further extraction or production activities are taking place in the well. 4. Plugging Details: The document will specify the method employed for plugging the well. It may include information on the plugging materials used, the depth at which the well was plugged, and any other pertinent details necessary to ensure compliance with regulatory requirements. 5. Date of Last Royalty Payment: One crucial aspect of this affidavit is the specification of the last date on which royalties were paid for the well. This provides an official record of the cessation of royalty payments and helps in maintaining accurate financial records. It is important to note that different types of Virgin Islands Affidavits of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment may exist depending on specific circumstances or variations in legal requirements. Some possible variations could include affidavits for different types of wells (e.g., oil wells, gas wells), affidavits for wells operated by different entities, or affidavits that incorporate additional reporting or documentation requirements. Ultimately, completing a Virgin Islands Affidavit of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment is a critical step in the regulatory process, ensuring compliance with local laws and regulations while also documenting the cessation of production activities and the last date of royalty payment for a well in the Virgin Islands.