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.

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.

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Ratification of Oil and Gas Lease With No Rental Payments

Broward Florida Ratification of Oil and Gas Lease With No Rental Payments

Name: Broward Florida Ratification of Oil and Gas Lease With No Rental Payments
Brand: US Legal Forms
Rating: 4.72 (347 reviews)

Category:

Oil Gas and Minerals - Ratification

State:

Multi-State

County:

Broward

Control #:

US-OG-380

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Instant download

Description

This form is used by the Lessor to adopt, ratify and confirm the Lease and all its terms.

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How to fill out Broward Florida Ratification Of Oil And Gas Lease With No Rental Payments?

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A mineral lease is a contractual agreement between the owner of a mineral estate (known as the lessor), and another party such as an oil and gas company (the lessee). The lease gives an oil or gas company the right to explore for and develop the oil and gas deposits in the area described in the lease.

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.

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.

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.

An Overriding Royalty Interest IORRI), commonly referred to as an override, is a fractional, undivided interest granting the right to receive proceeds from the sale of oil and gas. It is not an interest in the minerals themselves, but rather in the proceeds of the sale of oil and gas.

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.

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.

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.

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.

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.

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Rental company" as it related to long-term motor vehicle leasing companies. Arrests; constable not entitled to.Hotel and Restaurant Licenses and Fees .

License fees for hotel rooms. Use of hotel rooms; penalty. License fees for restaurants. Use of restaurant and restaurant licenses and fees. Suspension or revocation of restaurant or restaurant license or fees. Disposition and penalty of failure to renew restaurant or restaurant and restaurant fees and licenses. Enforcement of civil penalties. Application for restaurant and restaurant licenses and fees. Registration. Violations not affecting registration. Restaurant and restaurant licenses and fees. Licenses or fees may be reinstated by the director. Disposition of unlicensed or unregistered restaurant restaurants. Regulations.

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Broward Florida Ratification of Oil and Gas Lease With No Rental Payments

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FAQ

What type of lease gives a lessee the rights to oil and gas under the lessor's land?

How long are oil and gas leases?

When did Pugh clauses start?

What is an oil and gas lease?

What is an override in oil and gas?

What does ratification of oil and gas lease mean?

What is the rule of non apportionment in Texas?

What does a Pugh clause do?

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

What is a horizontal Pugh clause?

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What is the Broward Ratification of Oil and Gas Lease With No Rental Payments716030?

Why would Broward County ratify an oil and gas lease without rental payments?

What are the benefits of the Broward Ratification of Oil and Gas Lease With No Rental Payments716030 to the county?

Are there any environmental risks associated with the lease?

Is there a chance that Broward County could receive rental payments in the future?

How long does the lease last?

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