Collin Texas Exhibit Schedule of Oil and Gas Leases Form 2

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• County: Collin
• Control #: US-OG-525
• Format: Word; Rich Text

Description

This Exhibit provides a schedule of oil and gas leases subject to the Operating Agreement. The Collin Texas Exhibit Schedule of Oil and Gas Leases Form 2 is a crucial document that provides details about oil and gas leases in Collin County, Texas. This record highlights essential information regarding the leases, helping stakeholders in the oil and gas industry make informed decisions. The Collin Texas Exhibit Schedule of Oil and Gas Leases Form 2 lists various types of leases, including: 1. Producing Leases: This type of lease signifies that the designated area is actively producing oil or gas. It includes information about the current production levels, operators involved, and lease terms. 2. Non-Producing Leases: These leases represent areas with identified oil and gas reserves; however, they are not currently in production. This category typically encompasses leases that require further exploration or development before extraction can occur. 3. Expired Leases: This category includes leases that were once active but have reached the end of their contractual terms. Details about the lease duration, past production records, and reasons for expiration are provided in this section. 4. Suspended Leases: Suspended leases are temporarily inactive, usually due to technical or legal reasons. This portion of the form describes the causes behind the lease suspension and any associated legal proceedings. 5. Terminated Leases: Terminated leases are those that have been permanently cancelled or terminated before their expiration dates. A detailed explanation of the termination terms, such as breaches of contract or mutual agreement, is typically noted here. The Collin Texas Exhibit Schedule of Oil and Gas Leases Form 2 plays a vital role in facilitating effective management and analysis of oil and gas leases in Collin County. It aids companies, investors, and regulatory authorities in monitoring the production levels, exploration activities, and legal statuses of these leases. By providing comprehensive information, this form contributes to transparency, accountability, and proper decision-making within the oil and gas industry.

The Collin Texas Exhibit Schedule of Oil and Gas Leases Form 2 is a crucial document that provides details about oil and gas leases in Collin County, Texas. This record highlights essential information regarding the leases, helping stakeholders in the oil and gas industry make informed decisions. The Collin Texas Exhibit Schedule of Oil and Gas Leases Form 2 lists various types of leases, including: 1. Producing Leases: This type of lease signifies that the designated area is actively producing oil or gas. It includes information about the current production levels, operators involved, and lease terms. 2. Non-Producing Leases: These leases represent areas with identified oil and gas reserves; however, they are not currently in production. This category typically encompasses leases that require further exploration or development before extraction can occur. 3. Expired Leases: This category includes leases that were once active but have reached the end of their contractual terms. Details about the lease duration, past production records, and reasons for expiration are provided in this section. 4. Suspended Leases: Suspended leases are temporarily inactive, usually due to technical or legal reasons. This portion of the form describes the causes behind the lease suspension and any associated legal proceedings. 5. Terminated Leases: Terminated leases are those that have been permanently cancelled or terminated before their expiration dates. A detailed explanation of the termination terms, such as breaches of contract or mutual agreement, is typically noted here. The Collin Texas Exhibit Schedule of Oil and Gas Leases Form 2 plays a vital role in facilitating effective management and analysis of oil and gas leases in Collin County. It aids companies, investors, and regulatory authorities in monitoring the production levels, exploration activities, and legal statuses of these leases. By providing comprehensive information, this form contributes to transparency, accountability, and proper decision-making within the oil and gas industry.