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 Laredo Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision is a vital component of the oil and gas industry in Laredo, Texas. This provision outlines the specific terms and conditions related to shut-in royalty payments for producers participating in the rental lease pooling agreement. In simple terms, a shut-in royalty provision allows producers to temporarily halt production due to unforeseen circumstances or unfavorable market conditions. During this shut-in period, the producer is still obligated to pay royalties to the landowners or lessors to maintain their lease rights. The Laredo Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision ensures that producers operating within the rental lease pooling agreement comply with regulations and responsibilities regarding shut-in royalties. It provides a fair framework for compensating landowners while safeguarding the interests of the producers. Keywords: Laredo Texas, Producers 88 (8/99), Rental Lease, Pooling, Shut-In Royalty Provision, oil and gas industry, terms and conditions, shut-in royalty payments, unforeseen circumstances, market conditions, production, producers, landowners, lessors, lease rights, rental lease pooling agreement, regulations, responsibilities, compensation, framework, interests. Different Types of Laredo Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision: 1. Standard Shut-In Royalty Provision: This is the basic version of the provision that outlines the general terms and conditions for shut-in royalty payments. It usually covers the minimum duration of the shut-in period, the amount or percentage of royalties to be paid, and any additional requirements or notifications. 2. Extended Shut-In Royalty Provision: This type of provision offers extended periods of shut-in royalty payments, which may be necessary for situations where production cannot resume due to technical difficulties, regulatory issues, or market volatility for an extended period of time. It provides more flexibility and compensation for producers during prolonged shut-in periods. 3. Force Mature Shut-In Royalty Provision: This provision is specifically designed to address shut-in situations resulting from force majeure events such as natural disasters, acts of terrorism, or political instability. It may allow producers to suspend operations without immediate shut-in royalty payments, providing a grace period until normal production can be resumed. 4. Minimum Production Threshold Shut-In Royalty Provision: In certain cases, producers may be required to maintain a minimum level of production to avoid shut-in royalty payments. This provision encourages consistent production levels and prevents producers from relying on shut-in periods as a strategy to reduce royalty obligations. Keywords: Standard Shut-In Royalty Provision, Extended Shut-In Royalty Provision, Force Mature Shut-In Royalty Provision, Minimum Production Threshold Shut-In Royalty Provision, technical difficulties, regulatory issues, market volatility, flexibility, compensation, force majeure events, natural disasters, acts of terrorism, political instability, grace period, minimum production threshold, consistent production levels, royalty obligations.The Laredo Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision is a vital component of the oil and gas industry in Laredo, Texas. This provision outlines the specific terms and conditions related to shut-in royalty payments for producers participating in the rental lease pooling agreement. In simple terms, a shut-in royalty provision allows producers to temporarily halt production due to unforeseen circumstances or unfavorable market conditions. During this shut-in period, the producer is still obligated to pay royalties to the landowners or lessors to maintain their lease rights. The Laredo Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision ensures that producers operating within the rental lease pooling agreement comply with regulations and responsibilities regarding shut-in royalties. It provides a fair framework for compensating landowners while safeguarding the interests of the producers. Keywords: Laredo Texas, Producers 88 (8/99), Rental Lease, Pooling, Shut-In Royalty Provision, oil and gas industry, terms and conditions, shut-in royalty payments, unforeseen circumstances, market conditions, production, producers, landowners, lessors, lease rights, rental lease pooling agreement, regulations, responsibilities, compensation, framework, interests. Different Types of Laredo Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision: 1. Standard Shut-In Royalty Provision: This is the basic version of the provision that outlines the general terms and conditions for shut-in royalty payments. It usually covers the minimum duration of the shut-in period, the amount or percentage of royalties to be paid, and any additional requirements or notifications. 2. Extended Shut-In Royalty Provision: This type of provision offers extended periods of shut-in royalty payments, which may be necessary for situations where production cannot resume due to technical difficulties, regulatory issues, or market volatility for an extended period of time. It provides more flexibility and compensation for producers during prolonged shut-in periods. 3. Force Mature Shut-In Royalty Provision: This provision is specifically designed to address shut-in situations resulting from force majeure events such as natural disasters, acts of terrorism, or political instability. It may allow producers to suspend operations without immediate shut-in royalty payments, providing a grace period until normal production can be resumed. 4. Minimum Production Threshold Shut-In Royalty Provision: In certain cases, producers may be required to maintain a minimum level of production to avoid shut-in royalty payments. This provision encourages consistent production levels and prevents producers from relying on shut-in periods as a strategy to reduce royalty obligations. Keywords: Standard Shut-In Royalty Provision, Extended Shut-In Royalty Provision, Force Mature Shut-In Royalty Provision, Minimum Production Threshold Shut-In Royalty Provision, technical difficulties, regulatory issues, market volatility, flexibility, compensation, force majeure events, natural disasters, acts of terrorism, political instability, grace period, minimum production threshold, consistent production levels, royalty obligations.
