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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Term Assignment and Agreement for Nonproducing Portion of HBP Leases

King Washington Term Assignment and Agreement for Nonproducing Portion of HBP Leases

Name: King Washington Term Assignment and Agreement for Nonproducing Portion of HBP Leases
Brand: US Legal Forms
Rating: 4.8 (238 reviews)

Category:

Oil Gas and Minerals - Agreements

State:

Multi-State

County:

King

Control #:

US-OG-226

Format:

Instant download

Description

This form is used when an Assignor transfers and assigns to Assignee all of Assignors rights, title, and interests in and to the described oil and gas lease or leases only insofar as the Leases cover and include the oil, gas, casinghead gas and other liquid, gaseous or vaporous substances in, under, and which may be produced from the described lands.

King Washington Term Assignment and Agreement for Nonproducing Portion of HBP Leases is a legal document that outlines the terms and conditions for the assignment and agreement of the nonproducing portion of leases in the HBP (Held by Production) area, specifically in the King Washington region. This agreement is primarily used in the oil and gas industry. Keywords: King Washington, Term Assignment, Agreement, Nonproducing Portion, HBP Leases Different types of King Washington Term Assignment and Agreement for Nonproducing Portion of HBP Leases may include: 1. Standard Term Assignment and Agreement: This type of agreement follows the standard template and covers the assignment and agreement terms for nonproducing portions of HBP leases in the King Washington region. 2. Customized Term Assignment and Agreement: This type of agreement allows for customization to meet the unique requirements of specific parties involved. It may include additional clauses or provisions tailored to the particular circumstances of the assignment. 3. Partial Term Assignment and Agreement: This type of agreement covers only a portion of the nonproducing area within an HBP lease in the King Washington region. It specifies the boundaries and terms for the assigned portion separately from the remaining nonproducing areas. 4. Renewal Term Assignment and Agreement: This type of agreement is used when the initial term of the assignment is expiring, and the parties involved wish to renew their agreement for the nonproducing portion of the HBP lease in the King Washington region. It outlines the renewal terms, including any changes to clauses or provisions. 5. Sublease Term Assignment and Agreement: This type of agreement occurs when the assignee further subleases the nonproducing portion of an HBP lease in the King Washington region to a third party. It incorporates provisions for the subletting arrangement while still abiding by the original agreement's terms. It is essential to consult legal professionals experienced in oil and gas leases to ensure the accurate drafting and execution of the King Washington Term Assignment and Agreement for Nonproducing Portion of HBP Leases.

How to fill out King Washington Term Assignment And Agreement For Nonproducing Portion Of HBP Leases?

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FAQ

in clause (or shutin royalty clause) traditionally allows the lessee to maintain the lease by making shutin payments on a well capable of producing oil or gas in paying quantities where the oil or gas cannot be marketed, whether due to a lack of pipeline connection or otherwise.

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.

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.

LEGALLY a vertical pugh clause is one where all acreage outside of the well/unit boundaries must be released. LEGALLY a horizontal pugh clause is one where you must release acreage below a certain depth. However, these two terms are used interchangeably in the industry.

in royalty clause is a savings clause within an oil and gas lease that allows a lessee to shut in a well but continue to maintain its lease by paying the lessor certain royalties identified in the lease.

Simply stated, a retained acreage clause is a clause in an oil and gas lease that sets out how much acreage a lessee may retain for each well it drills on the leased premises after the balance of the lease automatically terminates.

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.

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.

More info

Farm-out, An assignment or partial assignment of an oil and gas lease from one lessee to another. Land. LandGate came to me in a time of need.Use of the word "Minerals" in the ownership section of oil and gas title opinions is very common. Non-HBP Haynesville Leases. The National Institute for Occupational Safety and Health (NIOSH) estimates that 30 million workers in the United States are exposed to hazardous noise. The term and definition are singled out in a dedicated section of organizational material. Reward, grow our business and maximize long-term shareholder value. 8 In agreement with footnote 4, the assignment of NPIs to sectors should be identical to the assignment used in the national accounts. Fill out the online form or call us at 866-609-3931. To a separate assignment and participation agreement with Weststar.

King Washington Term Assignment and Agreement for Nonproducing Portion of HBP Leases

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FAQ

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When did Pugh clauses start?

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