Collin Texas Waiver of Call on Production

• Category: Oil Gas and Minerals - Waivers
• State: Multi-State
• County: Collin
• Control #: US-OG-566
• Format: Word; Rich Text

Description

This is a form of a Waiver of Call on Production. Collin Texas Waiver of Call on Production is a legal document used in the state of Texas to waive certain rights and obligations related to the production of oil, gas, or other minerals located within Collin County. This waiver is typically signed by a landowner or mineral rights' owner, known as the granter, to give permission to an oil or gas company, known as the grantee, to access and extract the minerals on their property. The Collin Texas Waiver of Call on Production is a crucial agreement that establishes the terms and conditions under which the grantee can operate on the granter's land. It outlines the rights and responsibilities of both parties involved in the extraction and production process. The granter agrees to waive their right to demand a call on production, which refers to the right to request a certain portion of the extracted resources or impose limitations on production. This waiver serves as a legal protection for the grantee, allowing them to operate without interference from the granter regarding the quantity or rate of production. By signing this waiver, the granter acknowledges that they have been informed about and understand the potential risks and benefits associated with the extraction process, including environmental and financial considerations. There are different types of Collin Texas Waiver of Call on Production that can vary based on specific provisions and additional agreements between the granter and the grantee. Some common variations include surface rights waivers, depth limitations, royalty overrides, lease term extensions, and shut-in gas royalties clauses. These variations address specific concerns or desires of the granter and ensure that both parties are in agreement on various aspects of the production activity. In conclusion, the Collin Texas Waiver of Call on Production is a legally binding document that allows oil and gas companies to access and extract minerals in Collin County. It establishes the rights and obligations of both the granter and the grantee, providing a framework for smooth and mutually beneficial production operations. The different types of waivers cater to specific demands and preferences of the parties involved.

Collin Texas Waiver of Call on Production is a legal document used in the state of Texas to waive certain rights and obligations related to the production of oil, gas, or other minerals located within Collin County. This waiver is typically signed by a landowner or mineral rights' owner, known as the granter, to give permission to an oil or gas company, known as the grantee, to access and extract the minerals on their property. The Collin Texas Waiver of Call on Production is a crucial agreement that establishes the terms and conditions under which the grantee can operate on the granter's land. It outlines the rights and responsibilities of both parties involved in the extraction and production process. The granter agrees to waive their right to demand a call on production, which refers to the right to request a certain portion of the extracted resources or impose limitations on production. This waiver serves as a legal protection for the grantee, allowing them to operate without interference from the granter regarding the quantity or rate of production. By signing this waiver, the granter acknowledges that they have been informed about and understand the potential risks and benefits associated with the extraction process, including environmental and financial considerations. There are different types of Collin Texas Waiver of Call on Production that can vary based on specific provisions and additional agreements between the granter and the grantee. Some common variations include surface rights waivers, depth limitations, royalty overrides, lease term extensions, and shut-in gas royalties clauses. These variations address specific concerns or desires of the granter and ensure that both parties are in agreement on various aspects of the production activity. In conclusion, the Collin Texas Waiver of Call on Production is a legally binding document that allows oil and gas companies to access and extract minerals in Collin County. It establishes the rights and obligations of both the granter and the grantee, providing a framework for smooth and mutually beneficial production operations. The different types of waivers cater to specific demands and preferences of the parties involved.