If a lease will expire, by its own terms, and the lessee desires to maintain the lease in effect by the payment of bonus, rather than commencing operations, and the terms of the original lease continue to be acceptable to the lessor, the parties may elect to amend the existing lease to extend the primary term, rather than entering into a new lease. This form addresses that situation.
The Bexar Texas Amendment to Oil and Gas Lease is a legal document that allows for the extension of the primary term of an existing oil and gas lease without requiring any additional rental payments. This amendment is applicable in Bexar County, Texas, and serves as a contractual agreement between the lessor (the owner of the land) and the lessee (the party granted the right to extract oil and gas). This particular amendment is designed to provide flexibility to both parties involved in the lease by extending the primary term of the lease with no requirement for further financial obligations. By extending the primary term, the lessee is granted additional time to explore and extract oil and gas reserves on the leased property without the need for extra rental payments. Keywords: Bexar Texas, amendment, oil and gas lease, extend, primary term, no additional rentals, Bexar County, lessor, lessee, contractual agreement, flexibility, financial obligations, explore, extract, reserves, leased property. Different Types: 1. Bexar Texas Amendment to Oil and Gas Lease to Extend Primary Term, With No Additional Rentals for Exploration: This type of amendment allows the lessee to extend the primary term of the lease solely for the purpose of exploring the leased property for potential oil and gas reserves. It does not require any additional rental payments. 2. Bexar Texas Amendment to Oil and Gas Lease to Extend Primary Term, With No Additional Rentals for Extraction: This type of amendment allows the lessee to extend the primary term of the lease to continue extracting oil and gas reserves from the leased property. It also does not require any additional rental payments. 3. Bexar Texas Amendment to Oil and Gas Lease to Extend Primary Term, With No Additional Rentals for Exploration and Extraction: This type of amendment combines the two previous types, granting the lessee an extended primary term to both explore and extract oil and gas reserves from the leased property. No additional rental payments are required in this case as well.The Bexar Texas Amendment to Oil and Gas Lease is a legal document that allows for the extension of the primary term of an existing oil and gas lease without requiring any additional rental payments. This amendment is applicable in Bexar County, Texas, and serves as a contractual agreement between the lessor (the owner of the land) and the lessee (the party granted the right to extract oil and gas). This particular amendment is designed to provide flexibility to both parties involved in the lease by extending the primary term of the lease with no requirement for further financial obligations. By extending the primary term, the lessee is granted additional time to explore and extract oil and gas reserves on the leased property without the need for extra rental payments. Keywords: Bexar Texas, amendment, oil and gas lease, extend, primary term, no additional rentals, Bexar County, lessor, lessee, contractual agreement, flexibility, financial obligations, explore, extract, reserves, leased property. Different Types: 1. Bexar Texas Amendment to Oil and Gas Lease to Extend Primary Term, With No Additional Rentals for Exploration: This type of amendment allows the lessee to extend the primary term of the lease solely for the purpose of exploring the leased property for potential oil and gas reserves. It does not require any additional rental payments. 2. Bexar Texas Amendment to Oil and Gas Lease to Extend Primary Term, With No Additional Rentals for Extraction: This type of amendment allows the lessee to extend the primary term of the lease to continue extracting oil and gas reserves from the leased property. It also does not require any additional rental payments. 3. Bexar Texas Amendment to Oil and Gas Lease to Extend Primary Term, With No Additional Rentals for Exploration and Extraction: This type of amendment combines the two previous types, granting the lessee an extended primary term to both explore and extract oil and gas reserves from the leased property. No additional rental payments are required in this case as well.
