Wake North Carolina 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: Wake
• 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 Wake North Carolina Affidavit of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment is an important legal document used in the oil and gas industry. This affidavit serves as proof that a particular well in Wake County, North Carolina has ceased production and has been properly plugged. It also specifies the date when the last royalty payment was made. In Wake County, North Carolina, there are two main types of Affidavit of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment: 1. Voluntary Affidavit of Cessation: This type of affidavit is submitted voluntarily by the operator or leaseholder of the well. It is used when the production from the well is no longer economically viable or the lease has expired. The operator must provide evidence of proper well plugging and indicate the date of the last royalty payment made to the landowner. 2. Mandatory Affidavit of Cessation: This type of affidavit is required by the regulatory authorities in Wake County, North Carolina. It is used when a well has reached the end of its productive life or a lease agreement has expired. The operator must comply with the regulations and guidelines set forth by the county governing body, provide documentation of proper plugging, and specify the date when the last royalty payment was made. The Wake North Carolina Affidavit of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment is crucial to ensure compliance with local regulations and to safeguard the interests of landowners. It serves as a record of well abandonment and provides transparency regarding the cessation of production and the date of the final royalty payment. Landowners can refer to this document for verification and to maintain accurate records of their royalty income.

The Wake North Carolina Affidavit of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment is an important legal document used in the oil and gas industry. This affidavit serves as proof that a particular well in Wake County, North Carolina has ceased production and has been properly plugged. It also specifies the date when the last royalty payment was made. In Wake County, North Carolina, there are two main types of Affidavit of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment: 1. Voluntary Affidavit of Cessation: This type of affidavit is submitted voluntarily by the operator or leaseholder of the well. It is used when the production from the well is no longer economically viable or the lease has expired. The operator must provide evidence of proper well plugging and indicate the date of the last royalty payment made to the landowner. 2. Mandatory Affidavit of Cessation: This type of affidavit is required by the regulatory authorities in Wake County, North Carolina. It is used when a well has reached the end of its productive life or a lease agreement has expired. The operator must comply with the regulations and guidelines set forth by the county governing body, provide documentation of proper plugging, and specify the date when the last royalty payment was made. The Wake North Carolina Affidavit of Cessation of Production and Plugging of Well Specifying Date of Last Royalty Payment is crucial to ensure compliance with local regulations and to safeguard the interests of landowners. It serves as a record of well abandonment and provides transparency regarding the cessation of production and the date of the final royalty payment. Landowners can refer to this document for verification and to maintain accurate records of their royalty income.