This form is a Texas Lease agreement wherein Lessor grants, leases, and lets exclusively to Lessee the lands described within for the purposes of conducting seismic and geophysical operations, exploring, drilling, mining, and operating for, producing and owning oil, gas, sulfur, and all other minerals whether or not similar to those mentioned (collectively the oil or gas ), and the right to make surveys, lay pipelines, establish and utilize facilities for surface or subsurface disposal of salt water, construct roads and bridges, dig canals, build tanks, power stations, power lines, telephone lines, and other structures on the Lands, necessary or useful in Lessee's operations on the Lands or any other land adjacent to the Lands. This lease form also provides for pooling.
The Harris Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision is a contractual agreement that provides certain benefits and regulations for oil and gas producers operating in Harris County, Texas. This provision is designed to protect the interests of both the lessor (landowner) and the lessee (oil and gas producer) in a rental lease pooling agreement. One key aspect of the Harris Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision is its ability to address situations where the lessee is unable to produce oil or gas due to specific circumstances. These circumstances may include market conditions, equipment failure, regulatory restrictions, or other unforeseen events. The provision allows the lessee to temporarily shut-in, or cease production, without losing their lease rights or incurring penalties. By invoking the shut-in royalty provision, the lessee continues to hold the lease, maintain the exclusive right to drill, and protect their future production opportunities. In return, the lessor receives a shut-in royalty payment, which compensates them for the potential loss of production revenue during the shut-in period. This payment acts as a form of rental income for the lessor, even if no oil or gas is being extracted. The Harris Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision is particularly important in volatile energy markets or in cases where operational challenges hinder production. It provides stability for both parties involved and encourages continued collaboration between lessors and lessees. It is worth mentioning that there might be variations of the Harris Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision. These variations can include specific terms regarding shut-in royalty payment calculations, duration of shut-in periods, and eligibility criteria for invoking the provision. However, the core objective of protecting the interests of both parties remains consistent across these variations. In summary, the Harris Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision is a vital component of lease agreements in Harris County, Texas. It safeguards the interests of both lessors and lessees by providing a mechanism to address temporary production challenges, ensuring ongoing collaboration, and maintaining the stability of the energy industry in the region.The Harris Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision is a contractual agreement that provides certain benefits and regulations for oil and gas producers operating in Harris County, Texas. This provision is designed to protect the interests of both the lessor (landowner) and the lessee (oil and gas producer) in a rental lease pooling agreement. One key aspect of the Harris Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision is its ability to address situations where the lessee is unable to produce oil or gas due to specific circumstances. These circumstances may include market conditions, equipment failure, regulatory restrictions, or other unforeseen events. The provision allows the lessee to temporarily shut-in, or cease production, without losing their lease rights or incurring penalties. By invoking the shut-in royalty provision, the lessee continues to hold the lease, maintain the exclusive right to drill, and protect their future production opportunities. In return, the lessor receives a shut-in royalty payment, which compensates them for the potential loss of production revenue during the shut-in period. This payment acts as a form of rental income for the lessor, even if no oil or gas is being extracted. The Harris Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision is particularly important in volatile energy markets or in cases where operational challenges hinder production. It provides stability for both parties involved and encourages continued collaboration between lessors and lessees. It is worth mentioning that there might be variations of the Harris Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision. These variations can include specific terms regarding shut-in royalty payment calculations, duration of shut-in periods, and eligibility criteria for invoking the provision. However, the core objective of protecting the interests of both parties remains consistent across these variations. In summary, the Harris Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision is a vital component of lease agreements in Harris County, Texas. It safeguards the interests of both lessors and lessees by providing a mechanism to address temporary production challenges, ensuring ongoing collaboration, and maintaining the stability of the energy industry in the region.
