This lease rider form may be used when you are involved in a lease transaction, and have made the decision to utilize the form of Oil and Gas Lease presented to you by the Lessee, and you want to include additional provisions to that Lease form to address specific concerns you may have, or place limitations on the rights granted the Lessee in the standard lease form.
Virgin Islands Shut-In Gas Royalty refers to the royalties received by the U.S. Virgin Islands government for natural gas wells that are temporarily shut-in due to operational or market conditions. Shut-in gas refers to natural gas reserves that are discovered but not currently producing due to certain limitations. One type of the Virgin Islands Shut-In Gas Royalty is the Temporary Shut-In Royalty. This royalty is collected when a natural gas well is temporarily closed for maintenance, repairs, or other operational reasons. During this period, the operator is not actively producing gas but still holds the lease rights. The U.S. Virgin Islands government receives a royalty payment for these temporarily shut-in wells. Another type of the Virgin Islands Shut-In Gas Royalty is the Economic Shut-In Royalty. This royalty is collected when a natural gas well is shut-in due to unfavorable market conditions, such as low gas prices or reduced demand. The operator may choose to stop production temporarily until the market conditions improve, and the government still receives a royalty on the potential production that could have been achieved. The Virgin Islands Shut-In Gas Royalty plays a crucial role in supporting the U.S. Virgin Islands economy by providing a continuous revenue stream, facilitating infrastructural development, and enhancing the overall financial stability of the region. These royalties are considered a significant source of income for the U.S. Virgin Islands government, which aids in funding vital public services, education, healthcare, and infrastructure projects. Moreover, the collection of the Virgin Islands Shut-In Gas Royalty ensures that the local government retains an equitable share of the natural gas resources within its jurisdiction. This is essential in promoting sustainable development and protecting the interests of the U.S. Virgin Islands community. In conclusion, Virgin Islands Shut-In Gas Royalty encompasses the royalties received by the U.S. Virgin Islands government for temporarily shut-in natural gas wells. These royalty payments, categorized as Temporary Shut-In Royalty and Economic Shut-In Royalty, contribute to the economic stability and development of the U.S. Virgin Islands region.Virgin Islands Shut-In Gas Royalty refers to the royalties received by the U.S. Virgin Islands government for natural gas wells that are temporarily shut-in due to operational or market conditions. Shut-in gas refers to natural gas reserves that are discovered but not currently producing due to certain limitations. One type of the Virgin Islands Shut-In Gas Royalty is the Temporary Shut-In Royalty. This royalty is collected when a natural gas well is temporarily closed for maintenance, repairs, or other operational reasons. During this period, the operator is not actively producing gas but still holds the lease rights. The U.S. Virgin Islands government receives a royalty payment for these temporarily shut-in wells. Another type of the Virgin Islands Shut-In Gas Royalty is the Economic Shut-In Royalty. This royalty is collected when a natural gas well is shut-in due to unfavorable market conditions, such as low gas prices or reduced demand. The operator may choose to stop production temporarily until the market conditions improve, and the government still receives a royalty on the potential production that could have been achieved. The Virgin Islands Shut-In Gas Royalty plays a crucial role in supporting the U.S. Virgin Islands economy by providing a continuous revenue stream, facilitating infrastructural development, and enhancing the overall financial stability of the region. These royalties are considered a significant source of income for the U.S. Virgin Islands government, which aids in funding vital public services, education, healthcare, and infrastructure projects. Moreover, the collection of the Virgin Islands Shut-In Gas Royalty ensures that the local government retains an equitable share of the natural gas resources within its jurisdiction. This is essential in promoting sustainable development and protecting the interests of the U.S. Virgin Islands community. In conclusion, Virgin Islands Shut-In Gas Royalty encompasses the royalties received by the U.S. Virgin Islands government for temporarily shut-in natural gas wells. These royalty payments, categorized as Temporary Shut-In Royalty and Economic Shut-In Royalty, contribute to the economic stability and development of the U.S. Virgin Islands region.
