Suffolk New York Amendment to Oil and Gas Lease to Extend the Primary Term of the Lease on Part of the Lands Subject to the Lease

• Category: Oil Gas and Minerals - Amendments
• State: Multi-State
• County: Suffolk
• Control #: US-OG-085
• Format: Word; Rich Text

Description

Faced with a similar situation to that encountered when considering using the preceding form, the lessor may desire to extend the lease on only a part of the lands subject to the original lease. This form addresses that situation. A Suffolk New York Amendment to Oil and Gas Lease to Extend the Primary Term of the Lease on Part of the Lands Subject to the Lease is a legally binding agreement made between the lessor (landowner) and the lessee (oil and gas company). This amendment specifically focuses on extending the initial term of the lease on a specific portion of the land covered by the original lease agreement. In Suffolk County, New York, there are various types of amendments that can be made to oil and gas leases in order to extend the primary term. Some common names for these amendments include: 1. Suffolk County Lease Amendment: This amendment applies specifically to oil and gas leases within Suffolk County. It outlines the terms and conditions for extending the primary term of the lease on a designated part of the leased land. 2. Primary Term Extension Amendment: This amendment grants an extension to the initial primary term specified in the original lease agreement. It typically includes details such as the duration of the extension and any additional obligations or considerations for the parties involved. 3. Land Partitioning Amendment: This amendment is required when a portion of the leased land needs to be separated or partitioned from the original lease agreement. It allows for distinct terms and primary term extensions for each partitioned portion. 4. Area of Mutual Interest (AMI) Amendment: In situations where there are multiple leaseholders in a specified area, an AMI amendment may be necessary to extend the primary term within a specific AMI boundary. It ensures that all leaseholders within the designated area have an equal opportunity to exercise their rights. 5. Affidavit of Extension Amendment: This amendment is used to officially document the extension of the primary term in compliance with local statutes and regulations. It requires both parties to sign an affidavit, acknowledging the extension and agreeing to the amended terms. When drafting the Suffolk New York Amendment to Oil and Gas Lease to Extend the Primary Term of the Lease on Part of the Lands Subject to the Lease, it is crucial to include relevant keywords to ensure accurate indexing and searchability. Some relevant keywords for this topic may include Suffolk County, New York, oil and gas lease, primary term extension, land partitioning, area of mutual interest, lease amendment, and affidavit of extension.

A Suffolk New York Amendment to Oil and Gas Lease to Extend the Primary Term of the Lease on Part of the Lands Subject to the Lease is a legally binding agreement made between the lessor (landowner) and the lessee (oil and gas company). This amendment specifically focuses on extending the initial term of the lease on a specific portion of the land covered by the original lease agreement. In Suffolk County, New York, there are various types of amendments that can be made to oil and gas leases in order to extend the primary term. Some common names for these amendments include: 1. Suffolk County Lease Amendment: This amendment applies specifically to oil and gas leases within Suffolk County. It outlines the terms and conditions for extending the primary term of the lease on a designated part of the leased land. 2. Primary Term Extension Amendment: This amendment grants an extension to the initial primary term specified in the original lease agreement. It typically includes details such as the duration of the extension and any additional obligations or considerations for the parties involved. 3. Land Partitioning Amendment: This amendment is required when a portion of the leased land needs to be separated or partitioned from the original lease agreement. It allows for distinct terms and primary term extensions for each partitioned portion. 4. Area of Mutual Interest (AMI) Amendment: In situations where there are multiple leaseholders in a specified area, an AMI amendment may be necessary to extend the primary term within a specific AMI boundary. It ensures that all leaseholders within the designated area have an equal opportunity to exercise their rights. 5. Affidavit of Extension Amendment: This amendment is used to officially document the extension of the primary term in compliance with local statutes and regulations. It requires both parties to sign an affidavit, acknowledging the extension and agreeing to the amended terms. When drafting the Suffolk New York Amendment to Oil and Gas Lease to Extend the Primary Term of the Lease on Part of the Lands Subject to the Lease, it is crucial to include relevant keywords to ensure accurate indexing and searchability. Some relevant keywords for this topic may include Suffolk County, New York, oil and gas lease, primary term extension, land partitioning, area of mutual interest, lease amendment, and affidavit of extension.