Harris Texas Affidavit As to Termination of Production Payment

• Category: Oil Gas and Minerals - Affidavits
• State: Multi-State
• County: Harris
• Control #: US-OG-171
• Format: Word; Rich Text

Description

An affidavit is statement of facts which is sworn to (or affirmed) before an officer who has authority to administer an oath (e.g. a notary public). This affidavit form is used when the Production Payment is deemed to have been satisfied and no longer burdens the Oil and Gas Leases on the Land. Harris Texas Affidavit as to Termination of Production Payment is a legal document commonly utilized in the oil and gas industry. It involves the termination of a production payment, which is a contractual arrangement where a party receives a portion of the proceeds from the sale or production of oil, gas, or minerals. The affidavit serves as a sworn statement made by the party terminating the production payment, affirming the provisions and conditions under which the termination is being executed. It is crucial to ensure compliance with all applicable laws and regulations in order to protect the interests of all parties involved. Keywords: Harris Texas, Affidavit, Termination, Production Payment, Oil and Gas Industry, Contractual arrangement, Proceeds, Sale, Production, Minerals, Sworn statement, Provisions, Compliance, Laws, Regulations, Legal document. Different types of Harris Texas Affidavit as to Termination of Production Payment may include: 1. Partial Termination Affidavit: A specific type of affidavit used when only a portion of the production payment is terminated, indicating the exact details and proportion of the termination. 2. Full Termination Affidavit: This type of affidavit is employed when the entire production payment agreement is terminated, providing comprehensive information regarding the termination and its implications. 3. Voluntary Termination Affidavit: Used when the termination is initiated willingly and mutually agreed upon by all parties involved, showcasing their consent and acknowledgment of the termination. 4. Involuntary Termination Affidavit: Employed when the termination is not voluntary and is enforced due to breach of contract, non-compliance, or any other legal grounds specified in the original agreement. 5. Conditional Termination Affidavit: Utilized when the termination of production payment is subject to specific conditions or contingencies, such as the fulfillment of certain obligations or regulatory requirements. 6. Unconditional Termination Affidavit: The affidavit used when the termination is not subject to any conditions or contingencies and is an absolute termination of the production payment. It is important to consult with legal professionals familiar with the oil and gas industry and the specific laws of Harris County, Texas, to ensure the preparation and execution of the Harris Texas Affidavit as to Termination of Production Payment comply with all relevant regulations and protect the interests of the parties involved.

Harris Texas Affidavit as to Termination of Production Payment is a legal document commonly utilized in the oil and gas industry. It involves the termination of a production payment, which is a contractual arrangement where a party receives a portion of the proceeds from the sale or production of oil, gas, or minerals. The affidavit serves as a sworn statement made by the party terminating the production payment, affirming the provisions and conditions under which the termination is being executed. It is crucial to ensure compliance with all applicable laws and regulations in order to protect the interests of all parties involved. Keywords: Harris Texas, Affidavit, Termination, Production Payment, Oil and Gas Industry, Contractual arrangement, Proceeds, Sale, Production, Minerals, Sworn statement, Provisions, Compliance, Laws, Regulations, Legal document. Different types of Harris Texas Affidavit as to Termination of Production Payment may include: 1. Partial Termination Affidavit: A specific type of affidavit used when only a portion of the production payment is terminated, indicating the exact details and proportion of the termination. 2. Full Termination Affidavit: This type of affidavit is employed when the entire production payment agreement is terminated, providing comprehensive information regarding the termination and its implications. 3. Voluntary Termination Affidavit: Used when the termination is initiated willingly and mutually agreed upon by all parties involved, showcasing their consent and acknowledgment of the termination. 4. Involuntary Termination Affidavit: Employed when the termination is not voluntary and is enforced due to breach of contract, non-compliance, or any other legal grounds specified in the original agreement. 5. Conditional Termination Affidavit: Utilized when the termination of production payment is subject to specific conditions or contingencies, such as the fulfillment of certain obligations or regulatory requirements. 6. Unconditional Termination Affidavit: The affidavit used when the termination is not subject to any conditions or contingencies and is an absolute termination of the production payment. It is important to consult with legal professionals familiar with the oil and gas industry and the specific laws of Harris County, Texas, to ensure the preparation and execution of the Harris Texas Affidavit as to Termination of Production Payment comply with all relevant regulations and protect the interests of the parties involved.