What is an oil and gas lease?

An oil or gas lease is a legal document where a landowner grants an individual or company the right to extract oil or gas from beneath the landowner's property. Courts generally find leases to be legally binding, so it is very important that you understand all the terms of a lease before you sign it.

When did Pugh clauses start?

Pugh, who first used such a clause in 1947 to prevent the holding of non-pooled acreage in his client's lease while only certain portions of the lease acreage were being held under pooling agreements.

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Amendment to Oil and Gas Lease to Amend Land Description to include...

Philadelphia Pennsylvania Amendment to Oil and Gas Lease to Amend Land Description to include Additional Lands

Name: Philadelphia Pennsylvania Amendment to Oil and Gas Lease to Amend Land Description to include Additional Lands
Brand: US Legal Forms
Rating: 4.65 (393 reviews)

Category:

Oil Gas and Minerals - Amendments

State:

Multi-State

County:

Philadelphia

Control #:

US-OG-081

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Instant download

Description

A lessor and lessee may desire to amend an existing lease to include additional lands. This form addresses that situation.

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A Pugh Clause is meant to prevent a lessee from declaring all lands under an oil and gas lease as being held by production, even if production only occurs on a fraction of the property.

The Mineral Leasing Act of 1920, as amended, and the Mineral Leasing Act for Acquired Lands of 1947, as amended, give the Bureau of Land Management (BLM) responsibility for oil and gas leasing on about 564 million acres of BLM, national forest, and other Federal lands, as well as State and private surface lands where

An oil or gas lease is a legal document where a landowner grants an individual or company the right to extract oil or gas from beneath the landowner's property. Courts generally find leases to be legally binding, so it is very important that you understand all the terms of a lease before you sign it.

In general terms, the Pugh Clause provides that production from a unitized or pooled area located on or including a portion of the leased lands will not be sufficient to extend the primary term for the entire leasehold.

The horizontal Pugh clause operates to release all lands not included in a pooled unit, typically at the end of the primary term or after cessation of continuous drilling operations, if the lease provides for same. The horizontal Pugh clause releases land at the surface as to all depths.

In terms of the oil and gas industry, ratification of a lease is the term for requesting acceptance of an existing lease agreement, with or without changes, from landowners who have purchased parcels to which the original leaseholder gave permission to drill and produce. Leases can last for decades.

In times of a low natural gas prices and reduced drilling, Lease Amendments, Modifications and Ratifications may become common. Gas companies may attempt to revive or restore a expired lease by presenting the royalty owner with a Lease Modification and Amendment.

Pugh, who first used such a clause in 1947 to prevent the holding of non-pooled acreage in his client's lease while only certain portions of the lease acreage were being held under pooling agreements.

Generally, a pooling clause will allow the leased premises to be combined with other lands to form a drilling unit, wherein proceeds from production anywhere on the drilling unit are allocated according to the percentage of the acreage of each tract divided by the total acreage of the drilling unit.

(a) (1) Any lease of oil or natural gas rights or any other conveyance of any kind separating such rights from the freehold estate of land shall expire at the end of ten (10) years from the date executed, unless, at the end of such ten (10) years, natural gas or oil is being produced from such land for commercial

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The move applies to federal lands and waters and deals a blow to climate change activists. 898 acre contiguous to larger tract,.An act to add certain lands located in Idaho to the Boise and PayetteNational Forests. 2020). ACAT provides climate change hazard information at the installation, command, and headquarters levels that is specifically developed for use in the. President Joe Biden, however, wants to reform the federal government's oil and gas program to consider its impacts on climate change. Surface Use Oil and Gas Agreement, State Game Land No. 208,. View property photos and details, research neighborhoods, get in touch with location real estate agent. Remove. 1 bed, 1 bath 210 Sq Ft .

Philadelphia Pennsylvania Amendment to Oil and Gas Lease to Amend Land Description to include Additional Lands

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FAQ

What is a Pugh clause in an oil and gas lease?

Which two acts gave the BLM responsibility for oil and gas leasing?

What is an oil and gas lease?

What does a Pugh clause do?

What is a horizontal Pugh clause?

What is the purpose of a ratification of oil and gas lease?

What is an amendment of oil and gas lease?

When did Pugh clauses start?

What is a pooling clause in oil and gas lease?

What is the maximum term for an oil and gas lease?

Interesting Questions

What is the Philadelphia Amendment to the Oil and Gas Lease?

Why do we need to amend the land description with the Philadelphia Amendment?

What does it mean to 'amend the land description' in the lease?

How will the Philadelphia Amendment benefit the lease agreement?

Who is responsible for initiating the Philadelphia Amendment?

Do the additional lands 785488 have any specific characteristics that make them desirable for oil and gas extraction?

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