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 Pearland Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision is a contractual clause that pertains to oil and gas leases in Pearland, Texas. This provision outlines the terms and conditions under which shut-in royalties are to be paid to the lessor in case the lessee temporarily stops producing oil or gas from the leased premises. The purpose of the shut-in royalty provision is to provide a mechanism to compensate the lessor for the inactivity of the well during specific circumstances. These circumstances typically include situations where the well becomes temporarily inoperable or uneconomic for the lessee to produce due to various reasons such as market conditions, lack of infrastructure, or low commodity prices. Pearland Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision includes specific details regarding the payment and calculation of shut-in royalties. It specifies a set payment amount or a formula that the lessee is to follow in determining the amount to be paid to the lessor during the shut-in period. The provision might also outline the duration for which shut-in royalties will be paid and any necessary requirements for the lessee to qualify for shut-in royalty payments. Additionally, Pearland Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision could have variations or different types that are tailored to specific lease agreements. These variations may depend on factors such as the duration of shut-in, minimum shut-in duration, rates of payments, and any additional conditions that the lessor and lessee may negotiate. In conclusion, the Pearland Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision is an essential component of an oil and gas lease agreement in Pearland, Texas. It offers a mechanism for compensating lessors during temporary production shutdowns, ensuring fair treatment for both parties involved in the lease agreement. Different types or variations of this provision may exist, depending on the specific terms and conditions negotiated between the lessor and lessee.The Pearland Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision is a contractual clause that pertains to oil and gas leases in Pearland, Texas. This provision outlines the terms and conditions under which shut-in royalties are to be paid to the lessor in case the lessee temporarily stops producing oil or gas from the leased premises. The purpose of the shut-in royalty provision is to provide a mechanism to compensate the lessor for the inactivity of the well during specific circumstances. These circumstances typically include situations where the well becomes temporarily inoperable or uneconomic for the lessee to produce due to various reasons such as market conditions, lack of infrastructure, or low commodity prices. Pearland Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision includes specific details regarding the payment and calculation of shut-in royalties. It specifies a set payment amount or a formula that the lessee is to follow in determining the amount to be paid to the lessor during the shut-in period. The provision might also outline the duration for which shut-in royalties will be paid and any necessary requirements for the lessee to qualify for shut-in royalty payments. Additionally, Pearland Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision could have variations or different types that are tailored to specific lease agreements. These variations may depend on factors such as the duration of shut-in, minimum shut-in duration, rates of payments, and any additional conditions that the lessor and lessee may negotiate. In conclusion, the Pearland Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision is an essential component of an oil and gas lease agreement in Pearland, Texas. It offers a mechanism for compensating lessors during temporary production shutdowns, ensuring fair treatment for both parties involved in the lease agreement. Different types or variations of this provision may exist, depending on the specific terms and conditions negotiated between the lessor and lessee.
