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.
Travis Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision is a contractual agreement commonly used in the oil and gas industry. This provision specifically addresses the circumstances where the production from a lease or well is temporarily halted or shut-in due to various reasons. The term "Travis Texas Producers 88 (8/99)" refers to a specific type of lease agreement commonly used in the Travis County, Texas, area. The Rental Lease Pooling Shut-In Royalty Provision is designed to protect the interests of both the lessor (property owner) and the lessee (oil and gas company) during shut-in periods. This provision enables the lessee to suspend production from a specific well or lease temporarily, without terminating the lease or incurring penalties for non-production. In return, the lessee agrees to pay shut-in royalties to the lessor during the shut-in period. The shut-in provision is triggered when certain conditions are met, such as unforeseen events, market conditions, regulatory requirements, or technical difficulties that prevent economical production from the lease or well. By invoking this provision, the lessee can avoid the expenses associated with continuous production, maintenance, and operations during unproductive periods. The Travis Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision offers additional protection to the lessor through pooling clauses. These clauses allow the lessee to combine production from multiple wells or leases into a single pool, boosting overall efficiency and reducing costs. This pooling mechanism ensures that the shut-in royalties paid to the lessor accurately reflect the pooled production from the lease or well. It is worth mentioning that there may be different types or variations of the Travis Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision, as the oil and gas industry's contractual terms can vary from lease to lease or operator to operator. Some variations may include modified royalty rates during shut-in, shorter or longer shut-in timeframes, or conditions specific to individual lease agreements. Overall, the Travis Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision is a crucial component of lease agreements in the oil and gas industry, providing flexibility to lessees and protecting the interests of lessors during temporary shut-in periods.Travis Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision is a contractual agreement commonly used in the oil and gas industry. This provision specifically addresses the circumstances where the production from a lease or well is temporarily halted or shut-in due to various reasons. The term "Travis Texas Producers 88 (8/99)" refers to a specific type of lease agreement commonly used in the Travis County, Texas, area. The Rental Lease Pooling Shut-In Royalty Provision is designed to protect the interests of both the lessor (property owner) and the lessee (oil and gas company) during shut-in periods. This provision enables the lessee to suspend production from a specific well or lease temporarily, without terminating the lease or incurring penalties for non-production. In return, the lessee agrees to pay shut-in royalties to the lessor during the shut-in period. The shut-in provision is triggered when certain conditions are met, such as unforeseen events, market conditions, regulatory requirements, or technical difficulties that prevent economical production from the lease or well. By invoking this provision, the lessee can avoid the expenses associated with continuous production, maintenance, and operations during unproductive periods. The Travis Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision offers additional protection to the lessor through pooling clauses. These clauses allow the lessee to combine production from multiple wells or leases into a single pool, boosting overall efficiency and reducing costs. This pooling mechanism ensures that the shut-in royalties paid to the lessor accurately reflect the pooled production from the lease or well. It is worth mentioning that there may be different types or variations of the Travis Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision, as the oil and gas industry's contractual terms can vary from lease to lease or operator to operator. Some variations may include modified royalty rates during shut-in, shorter or longer shut-in timeframes, or conditions specific to individual lease agreements. Overall, the Travis Texas Producers 88 (8/99) Rental Lease Pooling Shut-In Royalty Provision is a crucial component of lease agreements in the oil and gas industry, providing flexibility to lessees and protecting the interests of lessors during temporary shut-in periods.
