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 Correct Land Description

Montgomery Maryland Amendment to Oil and Gas Lease to Correct Land Description

Name: Montgomery Maryland Amendment to Oil and Gas Lease to Correct Land Description
Brand: US Legal Forms
Rating: 4.83 (383 reviews)

Category:

Oil Gas and Minerals - Amendments

State:

Multi-State

County:

Montgomery

Control #:

US-OG-083

Format:

Instant download

Description

If the description of lands contained in a lease is incorrect, rather than entering into a new lease, the existing lease may be amended, with the amendment providing the correct description of lands the lessor and lessee intended to be covered by the lease. This form addresses that situation.

The Montgomery Maryland Amendment to Oil and Gas Lease to Correct Land Description is a legal document that aims to rectify any inaccuracies or errors in the original land description provided in an oil and gas lease agreement in Montgomery County, Maryland. This amendment ensures that the lease accurately reflects the boundaries and specifications of the designated land area for oil and gas exploration and extraction. Keywords: Montgomery Maryland, oil and gas lease, amendment, correct land description, Montgomery County, inaccuracies, errors, boundaries, specifications, exploration, extraction. There are no specific types of amendments to the Montgomery Maryland Oil and Gas Lease to Correct Land Description, as the purpose remains the same regardless of any variations in individual cases.

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FAQ

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.

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.

The BLM generally issues two types of leases for oil and gas exploration and development on lands owned or controlled by the Federal government -- competitive and noncompetitive.

(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

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 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

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.

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.

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.

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.

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Montgomery Maryland Amendment to Oil and Gas Lease to Correct Land Description

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FAQ

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

What is a pooling clause in oil and gas lease?

What are the two types of leases for oil and gas exploration that the BLM offer?

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

What does a Pugh clause do?

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

What is an amendment of oil and gas lease?

What is an oil and gas lease?

When did Pugh clauses start?

What is a horizontal Pugh clause?

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