Vermont 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 Vermont Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term is a legal document used in the state of Vermont to extend the duration of an oil and gas lease beyond its primary term. This affidavit serves as proof that the lessee has produced oil or gas from the leased premises during the primary term, which justifies the extension of the lease. In Vermont, there are different types of Affidavits of Production to Extend Oil and Gas Lease Beyond Primary Term based on the specific nature of the lease. Some of these variations include: 1. Provisional Extension Affidavit: This affidavit is used when the lessee has initially produced minimal amounts of oil or gas during the primary term, but intends to continue production in larger quantities within a specified timeframe. 2. Continuous Production Affidavit: This type of affidavit is required when the lessee has consistently produced oil or gas from the leased premises throughout the primary term, without any interruptions or cessation of production. 3. Marginal Production Affidavit: In cases where the oil or gas production during the primary term has been sporadic or marginal, this affidavit is used to extend the lease, provided the lessee guarantees increased production during the extended term. 4. Shut-In Production Affidavit: If circumstances such as low market prices or technical difficulties prevent the lessee from actively producing oil or gas during the primary term, this affidavit allows for the lease extension while the production remains temporarily shut-in. It is crucial to ensure that the specific type of affidavit corresponds to the circumstances and production details of the lease in question. Please consult a qualified legal professional to determine the appropriate type of Vermont Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term for your specific situation.

The Vermont Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term is a legal document used in the state of Vermont to extend the duration of an oil and gas lease beyond its primary term. This affidavit serves as proof that the lessee has produced oil or gas from the leased premises during the primary term, which justifies the extension of the lease. In Vermont, there are different types of Affidavits of Production to Extend Oil and Gas Lease Beyond Primary Term based on the specific nature of the lease. Some of these variations include: 1. Provisional Extension Affidavit: This affidavit is used when the lessee has initially produced minimal amounts of oil or gas during the primary term, but intends to continue production in larger quantities within a specified timeframe. 2. Continuous Production Affidavit: This type of affidavit is required when the lessee has consistently produced oil or gas from the leased premises throughout the primary term, without any interruptions or cessation of production. 3. Marginal Production Affidavit: In cases where the oil or gas production during the primary term has been sporadic or marginal, this affidavit is used to extend the lease, provided the lessee guarantees increased production during the extended term. 4. Shut-In Production Affidavit: If circumstances such as low market prices or technical difficulties prevent the lessee from actively producing oil or gas during the primary term, this affidavit allows for the lease extension while the production remains temporarily shut-in. It is crucial to ensure that the specific type of affidavit corresponds to the circumstances and production details of the lease in question. Please consult a qualified legal professional to determine the appropriate type of Vermont Affidavit of Production to Extend Oil and Gas Lease Beyond Primary Term for your specific situation.