The Wayne Michigan Amendment to Oil and Gas Lease is a legal document that outlines the necessary steps to extend the primary term of the lease pertaining to specific lands. This amendment is crucial for the involved parties to formalize an extension, allowing for continued exploration, extraction, and production of oil and gas resources. Keywords: Wayne Michigan, amendment, oil and gas lease, extend, primary term, lands, subject, lease. There can be different types of Wayne Michigan Amendments to Oil and Gas Lease to Extend the Primary Term of the Lease on Part of the Lands Subject to the Lease, including: 1. Time-based Extension Amendment: One type of amendment could involve extending the primary term of the lease for a specific length of time. For instance, if the initial lease term is set to expire after a predetermined period, this amendment can be executed to extend the lease term further, ensuring continued access to the oil and gas deposits present on the stated lands. 2. Production-based Extension Amendment: In some cases, an extension amendment might be granted based on production criteria. This type of amendment is typically applicable when the lessee is able to demonstrate that there is still considerable production potential on the leased lands. By proving ongoing economic viability, the lessee can secure an extension to further exploit the oil and gas resources. 3. Combination Extension Amendment: It is also possible to have a combination of time-based and production-based criteria for an extension amendment. This type of amendment acknowledges both the length of the primary lease term and the productive capabilities of the leased lands. By considering these dual factors, the involved parties can determine a suitable extension period. Regardless of the type, all Wayne Michigan Amendments to Oil and Gas Lease to Extend the Primary Term of the Lease on Part of the Lands Subject to the Lease encompass the necessary legal procedures and terms to ensure compliance with local regulations and protect the interests of all involved parties.
Wayne Michigan Amendment to Oil and Gas Lease to Extend the Primary Term of the Lease on Part of the Lands Subject to the Lease
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