Lewisville Texas Change of Land Description in Oil and Gas Lease - Without Acreage Change

• Category: Texas Oil Gas and Minerals - Leases
• State: Texas
• City: Lewisville
• Control #: TX-OG-037
• Format: Word; Rich Text

Description

This form is used to modify the description of land without changing the acreage in a lease granting the right to extract oil and gas from a specified piece of land. Lewisville Texas Change of Land Description in Oil and Gas Lease — Without Acreage Change In Lewisville, Texas, the change of land description in an oil and gas lease without acreage change refers to any modifications or updates made to the original description of the leased land in an existing lease agreement. This change allows for adjustments to the boundaries or specific tracts of land covered by the lease, without altering the total acreage encompassed by the agreement. These modifications could arise due to various reasons, such as clarifying the land area, including additional contiguous parcels, or excluding certain sections that no longer fit the lease criteria. There are specific types of changes related to land descriptions in oil and gas leases in Lewisville, Texas, without acreage change. These include: 1. Boundary Adjustments: This type of change occurs when the leaseholder wishes to modify the boundaries of the leased land to better align with legal descriptions or physical aspects of the property. The adjustment ensures that the leased area accurately reflects the intended property boundaries. 2. Annexation of Contiguous Parcels: In some cases, the leaseholder may intend to expand their existing leased area by incorporating adjacent, contiguous parcels of land. This change allows for the inclusion of additional tracts to maximize the potential for oil and gas exploration and production. 3. Exclusion of Specific Sections: Conversely, a change may involve excluding particular sections or tracts of land from the lease. This could occur if the excluded area no longer meets the lease requirements, is unsuitable for oil and gas operations, or is transferred to another party. 4. Fractionalization: Fractionalization refers to dividing a larger tract of land into smaller portions. The change of land description without acreage change allows for the division of a lease into fractional interests, enabling multiple parties to share ownership and rights to the leased land. It is important for both the lessor (landowner) and lessee (leaseholder) to agree upon and document any changes made to the land description in the oil and gas lease. This ensures that all parties involved have a clear and accurate understanding of the modified boundaries and obligations associated with the lease agreement. Keywords: Lewisville Texas, change of land description, oil and gas lease, without acreage change, boundary adjustments, annexation of contiguous parcels, exclusion of specific sections, fractionalization

Lewisville Texas Change of Land Description in Oil and Gas Lease — Without Acreage Change In Lewisville, Texas, the change of land description in an oil and gas lease without acreage change refers to any modifications or updates made to the original description of the leased land in an existing lease agreement. This change allows for adjustments to the boundaries or specific tracts of land covered by the lease, without altering the total acreage encompassed by the agreement. These modifications could arise due to various reasons, such as clarifying the land area, including additional contiguous parcels, or excluding certain sections that no longer fit the lease criteria. There are specific types of changes related to land descriptions in oil and gas leases in Lewisville, Texas, without acreage change. These include: 1. Boundary Adjustments: This type of change occurs when the leaseholder wishes to modify the boundaries of the leased land to better align with legal descriptions or physical aspects of the property. The adjustment ensures that the leased area accurately reflects the intended property boundaries. 2. Annexation of Contiguous Parcels: In some cases, the leaseholder may intend to expand their existing leased area by incorporating adjacent, contiguous parcels of land. This change allows for the inclusion of additional tracts to maximize the potential for oil and gas exploration and production. 3. Exclusion of Specific Sections: Conversely, a change may involve excluding particular sections or tracts of land from the lease. This could occur if the excluded area no longer meets the lease requirements, is unsuitable for oil and gas operations, or is transferred to another party. 4. Fractionalization: Fractionalization refers to dividing a larger tract of land into smaller portions. The change of land description without acreage change allows for the division of a lease into fractional interests, enabling multiple parties to share ownership and rights to the leased land. It is important for both the lessor (landowner) and lessee (leaseholder) to agree upon and document any changes made to the land description in the oil and gas lease. This ensures that all parties involved have a clear and accurate understanding of the modified boundaries and obligations associated with the lease agreement. Keywords: Lewisville Texas, change of land description, oil and gas lease, without acreage change, boundary adjustments, annexation of contiguous parcels, exclusion of specific sections, fractionalization