McKinney Texas Change of Land Description in Oil and Gas Lease

• Category: Texas Oil Gas and Minerals - Leases
• State: Texas
• City: McKinney
• Control #: TX-OG-036
• Format: Word; Rich Text

Description

This form is used to modify the description of the land in a lease that is granting the right to extract oil and gas from a specified piece of land. McKinney Texas Change of Land Description in Oil and Gas Lease In McKinney, Texas, the Change of Land Description in an Oil and Gas Lease refers to the modification or amendment made to the initially agreed-upon land description in the lease agreement. This change can occur due to various reasons such as boundary adjustments, land divisions, or the addition of new tracts to the lease area. It is crucial to have a clear and detailed understanding of the different types of Change of Land Description in Oil and Gas Lease used in McKinney, Texas. 1. Boundary Adjustments: Boundary adjustments involve altering the boundaries of the leased area by expanding or contracting its limits. This change could occur due to surveying errors, disputed lines, or mutual agreement between the lessor (landowner) and lessee (oil and gas company). The revised land description will reflect the updated boundaries with accurate metes and bounds, township and range, or other legal descriptions. 2. Parcel Divisions: Parcel divisions occur when the original lease area is divided into smaller tracts or lots, each assigned to a particular lessee or a well operator. This division may happen to accommodate multiple operators interested in different sections of the land. Each divided parcel will have its unique land description, including its boundaries and relevant legal references. 3. Addition of New Tracts: Sometimes, during the course of operations, additional tracts of land adjacent to the original lease area may become available for exploration and production. In such cases, a Change of Land Description is necessary to incorporate these new tracts into the existing lease. The updated land description will encompass the original leased area along with the newly added tracts, ensuring a comprehensive legal basis for exploration and production activities. 4. Easement Modifications: Easement modifications involve altering the terms of an existing easement agreement within the leased area. Easements grant certain rights, such as pipeline or road construction, to the lessee over the lessor's land. If any changes or adjustments to these rights are made, a revised Change of Land Description will accurately reflect the extent and scope of the modified easement. 5. Royalty Ownership Changes: In some cases, changes in royalty ownership may necessitate a Change of Land Description. This could occur due to legal actions, the transfer of ownership rights, or changes in the assignment of royalty interests. The revised land description will specify the updated royalty ownership structure within the leased area. It is essential for all parties involved in an Oil and Gas Lease in McKinney, Texas, to carefully review any Change of Land Description to ensure accurate and legally binding lease agreements. Professional land surveyors, attorneys, and oil and gas specialists should be consulted to ensure compliance with local regulations and best practices.

McKinney Texas Change of Land Description in Oil and Gas Lease In McKinney, Texas, the Change of Land Description in an Oil and Gas Lease refers to the modification or amendment made to the initially agreed-upon land description in the lease agreement. This change can occur due to various reasons such as boundary adjustments, land divisions, or the addition of new tracts to the lease area. It is crucial to have a clear and detailed understanding of the different types of Change of Land Description in Oil and Gas Lease used in McKinney, Texas. 1. Boundary Adjustments: Boundary adjustments involve altering the boundaries of the leased area by expanding or contracting its limits. This change could occur due to surveying errors, disputed lines, or mutual agreement between the lessor (landowner) and lessee (oil and gas company). The revised land description will reflect the updated boundaries with accurate metes and bounds, township and range, or other legal descriptions. 2. Parcel Divisions: Parcel divisions occur when the original lease area is divided into smaller tracts or lots, each assigned to a particular lessee or a well operator. This division may happen to accommodate multiple operators interested in different sections of the land. Each divided parcel will have its unique land description, including its boundaries and relevant legal references. 3. Addition of New Tracts: Sometimes, during the course of operations, additional tracts of land adjacent to the original lease area may become available for exploration and production. In such cases, a Change of Land Description is necessary to incorporate these new tracts into the existing lease. The updated land description will encompass the original leased area along with the newly added tracts, ensuring a comprehensive legal basis for exploration and production activities. 4. Easement Modifications: Easement modifications involve altering the terms of an existing easement agreement within the leased area. Easements grant certain rights, such as pipeline or road construction, to the lessee over the lessor's land. If any changes or adjustments to these rights are made, a revised Change of Land Description will accurately reflect the extent and scope of the modified easement. 5. Royalty Ownership Changes: In some cases, changes in royalty ownership may necessitate a Change of Land Description. This could occur due to legal actions, the transfer of ownership rights, or changes in the assignment of royalty interests. The revised land description will specify the updated royalty ownership structure within the leased area. It is essential for all parties involved in an Oil and Gas Lease in McKinney, Texas, to carefully review any Change of Land Description to ensure accurate and legally binding lease agreements. Professional land surveyors, attorneys, and oil and gas specialists should be consulted to ensure compliance with local regulations and best practices.