The Lima Arizona Amendment to Oil and Gas Lease is a legal document that introduces a shut-in provision specifically designed for oil wells located in Lima, Arizona. This amendment aims to address the unique challenges and considerations associated with oil well operations in this specific region. The shut-in provision included in this amendment provides the lessee with the ability to temporarily suspend the production and operation of oil wells in Lima, Arizona. This provision allows the lessee to shut-in the well in situations where continued production may not be economically viable or operationally feasible due to various factors such as market conditions, low oil prices, infrastructure constraints, or maintenance requirements. By adding this shut-in provision, the lessee gains the flexibility to respond to changing market dynamics and safeguard its investment while avoiding unnecessary expenses and potential losses. This provision serves as a valuable tool for lessees in managing their operations and maintaining profitability in an ever-changing oil and gas industry. Different types of Lima Arizona Amendments to Oil and Gas Lease to Add Shut-In Provision For Oil Wells may include variations in specific terms, conditions, and requirements. These variations could be based on factors such as lease duration, shut-in period duration, shut-in notice procedures, financial obligations during the shut-in period, reactivation procedures, and the lessee's ability to extend the shut-in period. It is important to consult with legal experts and professionals familiar with the oil and gas industry in Lima, Arizona to fully understand the specific details, implications, and potential variations of the Lima Arizona Amendment to Oil and Gas Lease to Add Shut-In Provision For Oil Wells.
Pima Arizona Amendment to Oil and Gas Lease to Add Shut-In Provision For Oil Wells
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