Harris Texas Stipulation Governing Payment of Nonparticipating Royalty Under Segregated Tracts Covered by one Oil and Gas Lease

• Category: Oil Gas and Minerals - Agreements
• State: Multi-State
• County: Harris
• Control #: US-OG-622
• Format: Word; Rich Text

Description

This form is used when the parties own nonparticipating royalty interests in various tracts of land. The Lease covers all of the lands owned by the parties. To resolve any question as to how royalty is to be paid to the parties in the event of production, under the lease, on any part of the lands, the parties are entering into this Stipulation to stipulate and agree to the ownership of each party's respective share of the royalty reserved in the lease. The Harris Texas Stipulation Governing Payment of Nonparticipating Royalty Under Segregated Tracts Covered by one Oil and Gas Lease is a legal agreement that outlines the procedures and terms for the payment of nonparticipating royalties in the Harris County, Texas area. This stipulation is specifically applicable to oil and gas leases covering segregated tracts. Nonparticipating royalty owners are individuals who own a share of mineral rights but do not take part in the actual operations or drilling activities on the leased property. In such cases, the nonparticipating royalty owners are entitled to a percentage of the revenue generated from the production of oil and gas on their property. Keywords: Harris Texas stipulation, nonparticipating royalty, segregated tracts, oil and gas lease, Harris County, legal agreement, payment procedures, mineral rights, drilling activities, revenue. Different types of Harris Texas Stipulation Governing Payment of Nonparticipating Royalty Under Segregated Tracts Covered by one Oil and Gas Lease may include variations in payment terms, royalty percentages, or specific provisions related to the management or administration of the nonparticipating royalty interests. These types can be tailored based on the specific requirements and agreements made between the parties involved in the lease. It's essential to consult with a legal professional specializing in oil and gas law to ensure adherence to the relevant regulations and to accurately draft or interpret the Harris Texas Stipulation Governing Payment of Nonparticipating Royalty Under Segregated Tracts Covered by one Oil and Gas Lease.

The Harris Texas Stipulation Governing Payment of Nonparticipating Royalty Under Segregated Tracts Covered by one Oil and Gas Lease is a legal agreement that outlines the procedures and terms for the payment of nonparticipating royalties in the Harris County, Texas area. This stipulation is specifically applicable to oil and gas leases covering segregated tracts. Nonparticipating royalty owners are individuals who own a share of mineral rights but do not take part in the actual operations or drilling activities on the leased property. In such cases, the nonparticipating royalty owners are entitled to a percentage of the revenue generated from the production of oil and gas on their property. Keywords: Harris Texas stipulation, nonparticipating royalty, segregated tracts, oil and gas lease, Harris County, legal agreement, payment procedures, mineral rights, drilling activities, revenue. Different types of Harris Texas Stipulation Governing Payment of Nonparticipating Royalty Under Segregated Tracts Covered by one Oil and Gas Lease may include variations in payment terms, royalty percentages, or specific provisions related to the management or administration of the nonparticipating royalty interests. These types can be tailored based on the specific requirements and agreements made between the parties involved in the lease. It's essential to consult with a legal professional specializing in oil and gas law to ensure adherence to the relevant regulations and to accurately draft or interpret the Harris Texas Stipulation Governing Payment of Nonparticipating Royalty Under Segregated Tracts Covered by one Oil and Gas Lease.