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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Release of Oil and Gas Lease by Subsequent Owner of Lease on Part of...

King Washington Release of Oil and Gas Lease by Subsequent Owner of Lease on Part of Lands Subject to the Lease

Name: King Washington Release of Oil and Gas Lease by Subsequent Owner of Lease on Part of Lands Subject to the Lease
Brand: US Legal Forms
Rating: 4.55 (482 reviews)

Category:

Oil Gas and Minerals - Releases

State:

Multi-State

County:

King

Control #:

US-OG-125

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Description

If the original lessee has assigned the lease to a third party, and that party desires to release a part of the land subject to the lease, this form addresses that situation.

How to fill out King Washington Release Of Oil And Gas Lease By Subsequent Owner Of Lease On Part Of Lands Subject To The Lease?

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The period of time in the life of an oil & gas lease that begins after the expiration of the primary term. Production, operations, continuous drilling, or shut-in royalty payments are most often used to extend an oil & gas lease into its secondary term.

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.

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

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.

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.

Definition of oil and gas lease : a deed by which a landowner authorizes exploration for and production of oil and gas on his land usually in consideration of a royalty.

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.

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.

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.

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.

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Negotiating mineral leases or surface use agreements. An oil and gas lease grants the lessee a fee simple determinable interest in the property.See Anadarko Petroleum Corp. To amend the Mineral Leasing Act to make certain adjustments in leasing on Federal lands for oil and gas drilling, and for other purposes. The latest Palm Springs area news from The Desert Sun newspaper in the California desert. Coachella Valley photos, obituaries and events calendar.

King Washington Release of Oil and Gas Lease by Subsequent Owner of Lease on Part of Lands Subject to the Lease

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How to fill out King Washington Release Of Oil And Gas Lease By Subsequent Owner Of Lease On Part Of Lands Subject To The Lease?

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FAQ

What is a secondary term oil and gas lease?

What is a horizontal Pugh clause?

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

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

What does a Pugh clause do?

What are oil leases?

When did Pugh clauses start?

What is an amendment of oil and gas lease?

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

What is a pooling clause in oil and gas lease?

Interesting Questions

What is a King Release of Oil and Gas Lease?

Who can initiate a King Release of Oil and Gas Lease?

Why would a subsequent owner want to release a part of the land from the lease agreement?

Does a King Release of Oil and Gas Lease impact the entire lease agreement?

How does a subsequent owner go about obtaining a King Release of Oil and Gas Lease?

Can the original owner of the lease block a King Release of Oil and Gas Lease?

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