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 Killeen Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision is a specific clause within the rental lease agreement for oil and gas exploration and production in the Killeen, Texas region. This provision addresses the conditions under which a shut-in royalty can be paid to the landowner in case the production operations are temporarily ceased or interrupted. The Shut-In Royalty Provision is designed to protect both the lessee (the oil and gas company) and the lessor (the landowner) in situations where the production has to be shut down due to unforeseen circumstances, such as equipment failure, maintenance, or other operational reasons. This provision ensures that the landowner continues to receive royalties during temporary shut-ins, compensating them for the potential income loss. In the context of Killeen Texas Producers 88 (8/99), there are no specific variations or additional types of rental lease pooling shut-in royalty provisions mentioned. However, different terms or modifications may be included depending on the specific lease agreement between the parties involved. Some relevant keywords to consider when discussing the Killeen Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision may include: 1. Rental lease agreement: Refers to the contractual agreement between the landowner (lessor) and the oil and gas company (lessee) regarding the use of the land for exploration and production purposes. 2. Shut-in royalty: The compensation paid to the landowner when production ceases temporarily due to operational reasons. 3. Lease pooling: The practice of combining multiple leases within a specific area to optimize oil and gas production operations. 4. Oil and gas exploration: The process of searching for potential reservoirs of oil and gas through geological and geophysical assessments. 5. Production operations: The activities involved in extracting, refining, and processing oil and gas from underground resources. 6. Landowner: The individual or entity that owns the land and grants the lease to the oil and gas company. 7. Lessee: The party (oil and gas company) that leases the land for exploration and production purposes. 8. Lessor: The party (landowner) who grants the lease to the oil and gas company. 9. Royalties: The payments made to the landowner as a percentage of the revenue generated from the oil and gas produced on their land. 10. Temporary shut-ins: The temporary cessation of production due to various operational reasons, such as maintenance, repair, or market conditions. By incorporating these relevant keywords and providing a detailed description of the Killeen Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision, readers will gain a better understanding of the specific clause and its significance in the oil and gas industry in Killeen, Texas.The Killeen Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision is a specific clause within the rental lease agreement for oil and gas exploration and production in the Killeen, Texas region. This provision addresses the conditions under which a shut-in royalty can be paid to the landowner in case the production operations are temporarily ceased or interrupted. The Shut-In Royalty Provision is designed to protect both the lessee (the oil and gas company) and the lessor (the landowner) in situations where the production has to be shut down due to unforeseen circumstances, such as equipment failure, maintenance, or other operational reasons. This provision ensures that the landowner continues to receive royalties during temporary shut-ins, compensating them for the potential income loss. In the context of Killeen Texas Producers 88 (8/99), there are no specific variations or additional types of rental lease pooling shut-in royalty provisions mentioned. However, different terms or modifications may be included depending on the specific lease agreement between the parties involved. Some relevant keywords to consider when discussing the Killeen Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision may include: 1. Rental lease agreement: Refers to the contractual agreement between the landowner (lessor) and the oil and gas company (lessee) regarding the use of the land for exploration and production purposes. 2. Shut-in royalty: The compensation paid to the landowner when production ceases temporarily due to operational reasons. 3. Lease pooling: The practice of combining multiple leases within a specific area to optimize oil and gas production operations. 4. Oil and gas exploration: The process of searching for potential reservoirs of oil and gas through geological and geophysical assessments. 5. Production operations: The activities involved in extracting, refining, and processing oil and gas from underground resources. 6. Landowner: The individual or entity that owns the land and grants the lease to the oil and gas company. 7. Lessee: The party (oil and gas company) that leases the land for exploration and production purposes. 8. Lessor: The party (landowner) who grants the lease to the oil and gas company. 9. Royalties: The payments made to the landowner as a percentage of the revenue generated from the oil and gas produced on their land. 10. Temporary shut-ins: The temporary cessation of production due to various operational reasons, such as maintenance, repair, or market conditions. By incorporating these relevant keywords and providing a detailed description of the Killeen Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision, readers will gain a better understanding of the specific clause and its significance in the oil and gas industry in Killeen, Texas.
