What is an oil and gas lease?

An oil or gas lease is a legal document where a landowner grants an individual or company the right to extract oil or gas from beneath the landowner's property. Courts generally find leases to be legally binding, so it is very important that you understand all the terms of a lease before you sign it.

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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Affidavit of Compliance with Terms of Oil and Gas Lease by Lessee

Dallas Texas Affidavit of Compliance with Terms of Oil and Gas Lease by Lessee

Name: Dallas Texas Affidavit of Compliance with Terms of Oil and Gas Lease by Lessee
Brand: US Legal Forms
Rating: 4.73 (481 reviews)

Category:

Oil Gas and Minerals - Affidavits

State:

Multi-State

County:

Dallas

Control #:

US-OG-177

Format:

Instant download

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 form is a declaration that the Lessee has complied with all of the terms of the Lease and deems the Lease, as to all of the lands covered by it, to be maintained and in force and effect as of the date of this Affidavit.

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How to fill out Dallas Texas Affidavit Of Compliance With Terms Of Oil And Gas Lease By Lessee?

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FAQ

An oil or gas lease is a legal document where a landowner grants an individual or company the right to extract oil or gas from beneath the landowner's property. Courts generally find leases to be legally binding, so it is very important that you understand all the terms of a lease before you sign it.

Under Texas law, there is a rule of non-apportionment. It sets out that when the property is subdivided after the lease is already in place on the tract, the royalties are not apportioned but given to the royalty interest owner on whose property the well physically sits. Delay rentals however are apportioned.

To ratify a lease means that the landowner and oil & gas producer, as current lessor and lessee of the land, agree (or re-agree) to the terms of the existing lease.

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.

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 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.

Cases have also imposed implied obligations on the lessee obligations that are not expressed in the lease. In Texas, the Supreme Court has described those implied obligations as a duty (1) to develop the premises, (2) to protect the leasehold, and (3) to manage and administer the lease. Amoco v.

(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

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.

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Properly recording the instrument creates constructive notice of the rights of the first purchaser. To lease the minerals at issue.

Dallas Texas Affidavit of Compliance with Terms of Oil and Gas Lease by Lessee

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FAQ

What is an oil and gas lease?

What is the rule of non apportionment in Texas?

What is a ratification of oil and gas lease?

What is a horizontal Pugh clause?

When did Pugh clauses start?

How long are oil and gas leases?

What implied covenants in and oil and gas lease are recognized in Texas?

What is the maximum term for an oil and gas lease?

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

What does a Pugh clause do?

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What is a Dallas Affidavit of Compliance?

Who is responsible for filing the Dallas Affidavit of Compliance?

What does the Dallas Affidavit of Compliance confirm?

Why is the Dallas Affidavit of Compliance important?

What happens if a lessee fails to file the Dallas Affidavit of Compliance?

How often should the Dallas Affidavit of Compliance be filed?

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