The Virgin Islands Conveyance of Right to Make Free Use of Gas Provided For in An Oil and Gas Lease is a legal document that grants the right to utilize gas provided in an oil and gas lease for various purposes without any additional cost. This conveyance is applicable in the Virgin Islands, an archipelago located in the Caribbean Sea, comprising the main islands of Saint Croix, Saint Thomas, and Saint John, along with smaller surrounding islets. Keywords: Virgin Islands, conveyance, gas, oil and gas lease, free use, legal document, Caribbean Sea, Saint Croix, Saint Thomas, Saint John, archipelago. Different types of Virgin Islands Conveyance of Right to Make Free Use of Gas Provided For in An Oil and Gas Lease may include: 1. Residential Conveyance: This type of conveyance is specifically designed for residential properties in the Virgin Islands. It grants the right to owners or tenants to make free use of gas provided in an oil and gas lease for domestic purposes, such as cooking, heating, or hot water systems. 2. Commercial Conveyance: This type of conveyance applies to commercial properties, including businesses, hotels, resorts, and other non-residential establishments in the Virgin Islands. It allows the proprietors to freely utilize the gas provided in the oil and gas lease for their operational requirements without incurring any additional charges. 3. Industrial Conveyance: The industrial conveyance of the right to make free use of gas provided for in an oil and gas lease caters to large-scale industrial facilities, such as manufacturing plants, refineries, power generation stations, and similar enterprises in the Virgin Islands. It facilitates the unrestricted usage of gas obtained through the lease for industrial processes, machinery operations, and energy generation purposes. 4. Government Conveyance: This type of conveyance is applicable to governmental entities in the Virgin Islands, including federal, state, or local government agencies. It permits these organizations to make free use of the gas provided in an oil and gas lease for their administrative functions, public service facilities, infrastructure projects, or any other relevant purposes. 5. Agricultural Conveyance: The agricultural conveyance of the right to make free use of gas provided for in an oil and gas lease is specifically tailored for farming operations in the Virgin Islands. It enables farmers, ranchers, and agricultural producers to utilize the gas obtained through the lease for irrigation, crop drying, greenhouse operations, livestock management, and other agricultural activities without any additional charges. It is important to note that the specific terms and conditions of the Virgin Islands Conveyance of Right to Make Free Use of Gas Provided For in An Oil and Gas Lease may vary depending on the individual agreement, the nature of the property, and the intended use of the gas. Consulting with a legal professional is advisable to ensure accurate interpretation and execution of such a conveyance.
Virgin Islands Conveyance of Right to Make Free Use of Gas Provided For in An Oil and Gas Lease
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FAQ
An assignment of oil and gas lease is a contractual agreement between a landowner and an oil or gas company in which the company gains the right to explore for, develop, and produce oil and gas from the property.
Is there more than one type of oil and gas lease? Yes, there are three types: a surface use lease, a non-surface use lease, and a dual purpose lease.
An ?unless? clause provides that the lease terminates unless the lessee has either made the required payments or commenced drilling operations. Lessees can therefore be terminated from the lease by failure to pay the proper amount, by the due date, in the proper form, to the proper party.
In general terms, the Pugh Clause provides that production from a unitized or pooled area located on or including a portion of the leased lands will not be sufficient to extend the primary term for the entire leasehold.
An oil or gas lease is a legal document where a landowner grants an individual or company the right to extract oil or gas from beneath the landowner's property. Courts generally find leases to be legally binding, so it is very important that you understand all the terms of a lease before you sign it.
What is the granting clause? The granting clause is the clause under which the owner of the oil and gas rights leases the oil and gas rights to the oil and gas company along with the right to develop the oil and gas on a specifically described piece of real estate.
Any partial assignment of any lease shall segregate the assigned and retained portions thereof, and as above provided, release and discharge the assignor from all obligations thereafter accruing with respect to the assigned lands; and such segregated leases shall continue in full force and effect for the primary term ...
If a lease is a "paid-up" lease, then the lease will remain in effect during the entire primary term with no further payments to the Lessor unless and until actual production of oil or gas is established.
