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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Partial Release of Oil and Gas Lease As to Depth

Middlesex Massachusetts Partial Release of Oil and Gas Lease As to Depth

Name: Middlesex Massachusetts Partial Release of Oil and Gas Lease As to Depth
Brand: US Legal Forms
Rating: 4.62 (485 reviews)

Category:

Oil Gas and Minerals - Releases

State:

Multi-State

County:

Middlesex

Control #:

US-OG-131

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Instant download

Description

This form presupposes an oil and gas lease provides for a termination of the lease as to depths. It is prepared for execution by the lessee to release subsurface depths as provided for in a lease.

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How to fill out Middlesex Massachusetts Partial Release Of Oil And Gas Lease As To Depth?

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The primary term of a federal oil and gas lease is 10 years. The term is extended as long as the lease has at least one well capable of production. Leases do not authorize ground disturbance.

(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

The Pugh Clause is named for a Louisiana attorney, Lawrence Pugh, who took on Shell Oil in 1947 on behalf of a lessor. The Louisiana Supreme Court sided with Shell Oil, and Pugh determined that the only way to prevent something similar from happening again was with a special clause in the lease contract.

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.

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.

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 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.

For many years, almost all oil and gas leases reserved a 1/8th royalty. Today, the royalty fraction is negotiable, and is usually between 1/8th and 1/4th. Bonus. The bonus is the amount paid to the Lessor as consideration for his/her execution of the lease.

Any provision resulting in acreage being released after production is a Pugh Clause. A Pugh Clause is a type of retained acreage provision that is only applicable with regards to pooled or unitized lands. A Pugh Clause is completely inapplicable when there has been no pooling or unitization.

The primary term is the initial period during which a well may be drilled. If a successful well is drilled within the primary term, the lease will extend for as long as the well remains productive. If a well is not drilled within the primary term, the lease will usually expire.

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Oil and gas industry, was in a unique position to contribute to this understanding. (7) Disclosure of Energy Sector Investment Activities in Iran.(8) Bidder's Checklist substantially in the form provided with the Proposal. Depths of 20-50 m, at distances up to 200 km offshore. Almost 2400 acres of coal in a body .

Middlesex Massachusetts Partial Release of Oil and Gas Lease As to Depth

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FAQ

How long are oil and gas leases?

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What is a primary term in oil and gas lease?

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