This lease rider form may be used when you are involved in a lease transaction, and have made the decision to utilize the form of Oil and Gas Lease presented to you by the Lessee, and you want to include additional provisions to that Lease form to address specific concerns you may have, or place limitations on the rights granted the Lessee in the standard lease form.
Fulton Georgia Shut-In Oil Royalty refers to a type of oil royalty that is associated with the shutting-in of oil wells in Fulton County, Georgia. This royalty is paid to the appropriate owners when the oil production from the well is temporarily stopped. The shutting-in of an oil well in Fulton County can be due to various reasons, such as market conditions, maintenance activities, low oil prices, or transitioning to a new production technique. When an oil well is shut-in, it means that the production is purposely halted, and no oil or gas is extracted from the well during that period. The Fulton Georgia Shut-In Oil Royalty works on the basis that the well owners or lessors are entitled to receive a specified share of the revenue generated when the well is in production. This share is often calculated as a percentage of the oil or gas production. However, when the well is shut-in and no production is occurring, the royalty payment is typically reduced or halted. There are different types of Fulton Georgia Shut-In Oil Royalty based on the specific agreements between the well owners and the oil and gas companies. These types can include: 1. Temporary Shut-In Royalty: This type of royalty is applicable when the well is temporarily shut in for a short duration. The payment may be temporarily reduced or suspended until the production resumes. 2. Long-Term Shut-In Royalty: In some cases, a well might be shut in for an extended period due to maintenance activities or unfavorable market conditions. Long-term shut-in royalties may involve revised payment agreements considering the duration of the shut-in period. 3. Seasonal Shut-In Royalty: Certain wells might be shut in during specific seasons when oil demand is low or when environmental regulations restrict extraction. Seasonal shut-in royalties involve agreements that consider the production patterns and revenue fluctuations during different times of the year. 4. Shut-In Royalty Clause: This refers to a contractual clause that outlines the specific conditions and terms governing shut-in royalties for a well. It can include provisions for payment adjustments, duration of shut-ins, and any other relevant details. As with any oil royalty, the specific terms and conditions of the Fulton Georgia Shut-In Oil Royalty may vary based on individual agreements between the well owners and the oil and gas companies operating in Fulton County.
