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.
Round Rock Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision is a clause included in oil and gas lease agreements in Round Rock, Texas. This provision outlines the conditions under which royalties may be suspended or reduced temporarily due to certain circumstances that prevent the extraction of oil or gas from the leased property. Keywords: Round Rock Texas Producers 88, Rental Lease, Pooling, Shut-In Royalty Provision, oil and gas lease agreements, Round Rock Texas. The Round Rock Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision allows for the pooling of multiple leased properties to enhance efficiency and maximize production. This provision enables operators to combine contiguous leasehold interests into a single unit, allowing for coordinated exploration, development, and production operations. Under this provision, a "shut-in" refers to the temporary cessation of production due to certain operational or market conditions that make extraction uneconomical. When a shut-in occurs, the royalty payments to the lessor may be temporarily suspended or reduced. This provision protects the operator from incurring excessive royalties during periods of inactive production, ensuring a fair distribution of profits between the lessor and operator. Different types of Round Rock Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provisions may exist, depending on specific lease agreements and negotiations between the lessor and operator. For example: 1. Standard Shut-In Royalty Provision: This is the typical provision included in most Round Rock Texas Producers 88 (8/99) rental leases. It outlines the requirements and conditions for temporarily shutting-in production and reducing or suspending royalty payments. 2. Enhanced Shut-In Royalty Provision: Some lease agreements may include additional clauses that modify the standard shut-in provisions. These enhancements could provide for extended shut-in periods, higher royalty rates during shut-ins, or specific conditions required for invoking the shut-in provision. 3. Partial Shut-In Royalty Provision: In certain scenarios, where only a portion of the leased property is shut-in while production continues in other areas, a partial shut-in royalty provision can be included. This provision ensures a fair adjustment of royalty payments based on the portion of the property shut-in. Overall, the Round Rock Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision plays a crucial role in harmonizing the interests of lessors and operators in Round Rock, Texas. It establishes a framework for temporarily suspending or reducing royalties during periods of inactivity, allowing operators to navigate economic fluctuations, without penalizing the lessor unfairly.Round Rock Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision is a clause included in oil and gas lease agreements in Round Rock, Texas. This provision outlines the conditions under which royalties may be suspended or reduced temporarily due to certain circumstances that prevent the extraction of oil or gas from the leased property. Keywords: Round Rock Texas Producers 88, Rental Lease, Pooling, Shut-In Royalty Provision, oil and gas lease agreements, Round Rock Texas. The Round Rock Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision allows for the pooling of multiple leased properties to enhance efficiency and maximize production. This provision enables operators to combine contiguous leasehold interests into a single unit, allowing for coordinated exploration, development, and production operations. Under this provision, a "shut-in" refers to the temporary cessation of production due to certain operational or market conditions that make extraction uneconomical. When a shut-in occurs, the royalty payments to the lessor may be temporarily suspended or reduced. This provision protects the operator from incurring excessive royalties during periods of inactive production, ensuring a fair distribution of profits between the lessor and operator. Different types of Round Rock Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provisions may exist, depending on specific lease agreements and negotiations between the lessor and operator. For example: 1. Standard Shut-In Royalty Provision: This is the typical provision included in most Round Rock Texas Producers 88 (8/99) rental leases. It outlines the requirements and conditions for temporarily shutting-in production and reducing or suspending royalty payments. 2. Enhanced Shut-In Royalty Provision: Some lease agreements may include additional clauses that modify the standard shut-in provisions. These enhancements could provide for extended shut-in periods, higher royalty rates during shut-ins, or specific conditions required for invoking the shut-in provision. 3. Partial Shut-In Royalty Provision: In certain scenarios, where only a portion of the leased property is shut-in while production continues in other areas, a partial shut-in royalty provision can be included. This provision ensures a fair adjustment of royalty payments based on the portion of the property shut-in. Overall, the Round Rock Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision plays a crucial role in harmonizing the interests of lessors and operators in Round Rock, Texas. It establishes a framework for temporarily suspending or reducing royalties during periods of inactivity, allowing operators to navigate economic fluctuations, without penalizing the lessor unfairly.
