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.
The West Virginia Reservation of A Call on, Or Preferential Right to Purchase Production by Lessor is a legal provision that grants the lessor specific rights in relation to the oil, gas, or mineral production on their leased property. This provision is commonly found in oil and gas lease agreements and aims to protect the lessor's interests in the event of production occurring on the leased premises. Keywords: West Virginia, Reservation of A Call on, Preferential Right to Purchase Production, Lessor, oil, gas, mineral, production, leased property, lease agreements, interests. There are different types of West Virginia Reservation of A Call on, Or Preferential Right to Purchase Production by Lessor, which include: 1. Reservation of A Call On Production: This type of reservation entitles the lessor to purchase a certain percentage or quantity of the produced oil, gas, or minerals before the lessee has the right to sell it to third parties. The lessor can exercise their call by matching the price offered by a potential buyer or by paying a predetermined price set in the lease agreement. 2. Preferential Right to Purchase Production: In this type of reservation, the lessor is given a preferential right to purchase the produced oil, gas, or minerals before the lessee can offer it to any third parties. Unlike a call on production, the lessor does not need to match a competing offer but can purchase the production at a fair market value determined at the time of sale. The West Virginia Reservation of A Call on, Or Preferential Right to Purchase Production by Lessor provisions are crucial in protecting the interests of the lessor by ensuring they have the opportunity to benefit from the economic value of the resources present on their leased property. These reservations help to maintain a fair balance of power between the lessor and the lessee, allowing the lessor to have control over the production and sale of the resources extracted from their land.The West Virginia Reservation of A Call on, Or Preferential Right to Purchase Production by Lessor is a legal provision that grants the lessor specific rights in relation to the oil, gas, or mineral production on their leased property. This provision is commonly found in oil and gas lease agreements and aims to protect the lessor's interests in the event of production occurring on the leased premises. Keywords: West Virginia, Reservation of A Call on, Preferential Right to Purchase Production, Lessor, oil, gas, mineral, production, leased property, lease agreements, interests. There are different types of West Virginia Reservation of A Call on, Or Preferential Right to Purchase Production by Lessor, which include: 1. Reservation of A Call On Production: This type of reservation entitles the lessor to purchase a certain percentage or quantity of the produced oil, gas, or minerals before the lessee has the right to sell it to third parties. The lessor can exercise their call by matching the price offered by a potential buyer or by paying a predetermined price set in the lease agreement. 2. Preferential Right to Purchase Production: In this type of reservation, the lessor is given a preferential right to purchase the produced oil, gas, or minerals before the lessee can offer it to any third parties. Unlike a call on production, the lessor does not need to match a competing offer but can purchase the production at a fair market value determined at the time of sale. The West Virginia Reservation of A Call on, Or Preferential Right to Purchase Production by Lessor provisions are crucial in protecting the interests of the lessor by ensuring they have the opportunity to benefit from the economic value of the resources present on their leased property. These reservations help to maintain a fair balance of power between the lessor and the lessee, allowing the lessor to have control over the production and sale of the resources extracted from their land.
