The Lima Arizona Affidavit of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment is a legal document used in the state of Arizona to officially declare the end of oil or gas production from a particular well and to specify the date of the last royalty payment. By filing this affidavit, the operator or owner of the well notifies the relevant authorities and interested parties that production has ceased and the well has been permanently plugged. This affidavit is a crucial step in the process of properly decommissioning a well and ensuring compliance with state regulations. It provides a clear record of the well's discontinuation and helps protect the rights of both the operator and the landowner. Some important keywords related to the Lima Arizona Affidavit of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment include: 1. Cessation of Production: The formal declaration of the end of oil or gas extraction from a well. 2. Plugging of Well: The process of permanently sealing a well to prevent any leaks or future use. 3. Royalty Payment: The financial compensation paid to the landowner or mineral rights holder based on a percentage of the production revenue. 4. Affidavit: A written and sworn statement made under oath to provide accurate and truthful information. 5. Pima County, Arizona: The specific county where this affidavit is applicable. Types of Lima Arizona Affidavit of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment could include: 1. Standard Affidavit: A typical affidavit used when a well's production has ceased, and the well has been plugged, specifying the final royalty payment date. 2. Conditional Affidavit: This type of affidavit may be used when production has temporarily ceased but may resume in the future. It includes provisions regarding resumption and potential royalty payment adjustments. 3. Emergency Affidavit: In exceptional circumstances, such as a well posing an immediate environmental or public safety risk, an emergency affidavit may allow for expedited cessation and plugging procedures, with the provision for royalty payment information. It is important to note that the specific naming conventions for different types of affidavits may vary depending on local regulations and practices.
Pima Arizona Affidavit of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment
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FAQ
Shut in a well in the Oil and Gas Industry (0283028ct 026an 0259 w025bl) phrase. (Extractive engineering: Field development, Drilling) To shut in a well is to close off a well so that it stops producing. An emergency shutdown valve was installed on the wellhead to shut in the well at any time.
Essentially, the shut-in royalty provision allows a lessee to temporarily cease production (i.e., shut-in a well) and pay a shut-in royalty to the lessor in place of the royalty on production that is not occurring during the shut-in period.
A savings clause in an oil & gas lease that keeps the lease in effect after a once-productive well stops producing oil or gas if certain conditions are met. The lessee must either begin reworking the well to restore production or start drilling a new well within a specified time.
in clause (or shutin royalty clause) traditionally allows the lessee to maintain the lease by making shutin payments on a well capable of producing oil or gas in paying quantities where the oil or gas cannot be marketed, whether due to a lack of pipeline connection or otherwise.
In such circumstances where a gas well has been completed but no market exists for the gas, the shut-in clause enables a lessee to keep the non-producing lease in force by the payment of the shut-in royalty.
Essentially, the shut-in royalty provision allows a lessee to temporarily cease production (i.e., shut-in a well) and pay a shut-in royalty to the lessor in place of the royalty on production that is not occurring during the shut-in period.
After obtaining production from a previously shut-in well, the well may be shut in again for a maximum term of five years as provided in the lease and subsection (h)(1) of this section.
A payment stipulated in the oil and gas lease, which royalty owners receive in lieu of actual production, when a gas well is shut-in due to lack of a suitable market, a lack of facilities to produce the product, or other cases defined within the shut-in provisions contained in the oil and gas lease.
in clause (or shutin royalty clause) traditionally allows the lessee to maintain the lease by making shutin payments on a well capable of producing oil or gas in paying quantities where the oil or gas cannot be marketed, whether due to a lack of pipeline connection or otherwise.
