Wisconsin Amendment to Oil and Gas Lease for Paid-Up Extension of Primary Term of Lease

• Category: Oil Gas and Minerals - Amendments
• State: Multi-State
• Control #: US-OG-575
• Format: Word; Rich Text

Description

This form is an Amendment to an Oil and Gas Lease (to provide for a Paid-Up Extension of Primary Term of Lease). Wisconsin Amendment to Oil and Gas Lease for Paid-Up Extension of Primary Term of Lease is a legally binding agreement that allows the lessee (party interested in extracting oil and gas resources) to extend the primary term of the lease in exchange for a payment, commonly known as a "paid-up extension." This amendment is specifically applicable in the state of Wisconsin. Keywords: Wisconsin, Amendment, Oil and Gas Lease, Paid-Up Extension, Primary Term, Lessee. In Wisconsin, there may be different variations or types of amendments related to the extension of the primary term of an oil and gas lease. Some notable ones could include: 1. Wisconsin Amendment to Oil and Gas Lease for Paid-Up Extension of Primary Term with Rent Adjustment: This type of amendment allows the lessee to extend the primary term for an additional period while also adjusting the rent or compensation terms. It ensures that the lessor (owner or holder of the lease) receives adequate monetary benefits for the extended period. 2. Wisconsin Amendment to Oil and Gas Lease for Paid-Up Extension of Primary Term with Additional Work Obligations: This variation requires the lessee to fulfill specific additional work obligations or exploration activities during the extension period. It aims to encourage further exploration and development in the leased area while extending the primary term. 3. Wisconsin Amendment to Oil and Gas Lease for Paid-Up Extension of Primary Term with Royalty Percentage Modification: This type of amendment allows the lessee to modify the royalty percentage paid to the lessor during the extended primary term. It could involve increasing or decreasing the royalty percentage to better reflect the prevailing market conditions or various factors impacting the oil and gas industry. 4. Wisconsin Amendment to Oil and Gas Lease for Paid-Up Extension of Primary Term with Surface Use Stipulations: In this variation, the amendment includes specific surface use stipulations that the lessee must adhere to during the extended primary term. It ensures responsible exploration activities while considering the environmental and aesthetic concerns of the leased land. 5. Wisconsin Amendment to Oil and Gas Lease for Paid-Up Extension of Primary Term with Shared Infrastructure Provision: This type of amendment allows multiple lessees operating in the same vicinity to share infrastructure and facilities, thereby reducing costs and optimizing resource utilization. It promotes efficient coordination and cooperation among lessees during the extended primary term. It's essential for parties involved in a Wisconsin Amendment to Oil and Gas Lease for Paid-Up Extension of Primary Term to thoroughly review and understand the specific terms and provisions outlined in their respective agreements.

Wisconsin Amendment to Oil and Gas Lease for Paid-Up Extension of Primary Term of Lease is a legally binding agreement that allows the lessee (party interested in extracting oil and gas resources) to extend the primary term of the lease in exchange for a payment, commonly known as a "paid-up extension." This amendment is specifically applicable in the state of Wisconsin. Keywords: Wisconsin, Amendment, Oil and Gas Lease, Paid-Up Extension, Primary Term, Lessee. In Wisconsin, there may be different variations or types of amendments related to the extension of the primary term of an oil and gas lease. Some notable ones could include: 1. Wisconsin Amendment to Oil and Gas Lease for Paid-Up Extension of Primary Term with Rent Adjustment: This type of amendment allows the lessee to extend the primary term for an additional period while also adjusting the rent or compensation terms. It ensures that the lessor (owner or holder of the lease) receives adequate monetary benefits for the extended period. 2. Wisconsin Amendment to Oil and Gas Lease for Paid-Up Extension of Primary Term with Additional Work Obligations: This variation requires the lessee to fulfill specific additional work obligations or exploration activities during the extension period. It aims to encourage further exploration and development in the leased area while extending the primary term. 3. Wisconsin Amendment to Oil and Gas Lease for Paid-Up Extension of Primary Term with Royalty Percentage Modification: This type of amendment allows the lessee to modify the royalty percentage paid to the lessor during the extended primary term. It could involve increasing or decreasing the royalty percentage to better reflect the prevailing market conditions or various factors impacting the oil and gas industry. 4. Wisconsin Amendment to Oil and Gas Lease for Paid-Up Extension of Primary Term with Surface Use Stipulations: In this variation, the amendment includes specific surface use stipulations that the lessee must adhere to during the extended primary term. It ensures responsible exploration activities while considering the environmental and aesthetic concerns of the leased land. 5. Wisconsin Amendment to Oil and Gas Lease for Paid-Up Extension of Primary Term with Shared Infrastructure Provision: This type of amendment allows multiple lessees operating in the same vicinity to share infrastructure and facilities, thereby reducing costs and optimizing resource utilization. It promotes efficient coordination and cooperation among lessees during the extended primary term. It's essential for parties involved in a Wisconsin Amendment to Oil and Gas Lease for Paid-Up Extension of Primary Term to thoroughly review and understand the specific terms and provisions outlined in their respective agreements.