Cook Illinois Affidavit of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment

• Category: Oil Gas and Minerals - Affidavits
• State: Multi-State
• County: Cook
• Control #: US-OG-008
• Format: Word; Rich Text

Description

As evidnce that an oil and gas lease has expired, a mineral owner may elect to complete and file of record an affidavit of this type. The Cook Illinois Affidavit of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment is an important legal document in the oil and gas industry. This affidavit is typically used when a well in Cook County, Illinois, has stopped producing oil or gas, and the operator wants to officially declare the well as inactive. The affidavit serves as proof that the well has ceased production and provides specific information regarding the date of the last royalty payment made. This is crucial for both the well operator and the royalty owners as it marks the end of royalty payments associated with the well. There are different types of Cook Illinois Affidavit of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment, depending on the specific circumstances and requirements. Some variations may include: 1. Cook Illinois Affidavit of Cessation of Production: This type of affidavit is used when the operator decides to temporarily halt production activities at the well. It specifies that the well is not producing oil or gas currently, but the operator plans to resume production in the future. 2. Cook Illinois Affidavit of Permanent Cessation of Production: In cases where the well is permanently ceasing production, this affidavit is utilized. The operator provides evidence that the well will no longer produce oil or gas, and subsequently, royalty payments will cease permanently. 3. Cook Illinois Affidavit of Plugging of Well: When a well is permanently abandoned, this affidavit is employed to document the completion of the plugging process. Plugging ensures that the well will no longer pose any environmental, safety, or liability risks. By specifying the date of the last royalty payment, the affidavit helps maintain a clear record of financial obligations and assists royalty owners in tracking their income from the well effectively. This document further ensures compliance with local regulations and allows for the proper closure and documentation of inactive or abandoned wells. If you require a Cook Illinois Affidavit of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment, it is recommended to consult with a legal professional familiar with oil and gas industry practices ensuring accuracy and compliance with the relevant laws and regulations.

The Cook Illinois Affidavit of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment is an important legal document in the oil and gas industry. This affidavit is typically used when a well in Cook County, Illinois, has stopped producing oil or gas, and the operator wants to officially declare the well as inactive. The affidavit serves as proof that the well has ceased production and provides specific information regarding the date of the last royalty payment made. This is crucial for both the well operator and the royalty owners as it marks the end of royalty payments associated with the well. There are different types of Cook Illinois Affidavit of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment, depending on the specific circumstances and requirements. Some variations may include: 1. Cook Illinois Affidavit of Cessation of Production: This type of affidavit is used when the operator decides to temporarily halt production activities at the well. It specifies that the well is not producing oil or gas currently, but the operator plans to resume production in the future. 2. Cook Illinois Affidavit of Permanent Cessation of Production: In cases where the well is permanently ceasing production, this affidavit is utilized. The operator provides evidence that the well will no longer produce oil or gas, and subsequently, royalty payments will cease permanently. 3. Cook Illinois Affidavit of Plugging of Well: When a well is permanently abandoned, this affidavit is employed to document the completion of the plugging process. Plugging ensures that the well will no longer pose any environmental, safety, or liability risks. By specifying the date of the last royalty payment, the affidavit helps maintain a clear record of financial obligations and assists royalty owners in tracking their income from the well effectively. This document further ensures compliance with local regulations and allows for the proper closure and documentation of inactive or abandoned wells. If you require a Cook Illinois Affidavit of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment, it is recommended to consult with a legal professional familiar with oil and gas industry practices ensuring accuracy and compliance with the relevant laws and regulations.