Oakland Michigan Shut-In Oil Royalty

Name: Oakland Michigan Shut-In Oil Royalty
Brand: US Legal Forms
Rating: 4.88 (466 reviews)

Category:

Oil Gas and Minerals - Lease Riders

State:

Multi-State

County:

Oakland

Control #:

US-OG-825

Format:

Instant download

Description

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.

Oakland Michigan Shut-In Oil Royalty refers to the financial compensation received by mineral rights owners in Oakland County, Michigan when their oil wells are temporarily shut-in due to any operational, environmental, or market constraints. This form of royalty is paid to the owners to compensate for the potential loss in revenue during the period of shut-in. Keywords: Oakland Michigan, shut-in oil royalty, mineral rights owners, oil wells, temporary shut-in, compensation, operational constraints, environmental constraints, market constraints, revenue loss. There are no specific types of Oakland Michigan Shut-In Oil Royalty mentioned in the prompt.

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FAQ

Essentially, the shut-in royalty provision allows a lessee to temporarily cease production (i.e., shut-in a well) and pay a shut-in royalty to the lessor in place of the royalty on production that is not occurring during the shut-in period.

In such circumstances where a gas well has been completed but no market exists for the gas, the shut-in clause enables a lessee to keep the non-producing lease in force by the payment of the shut-in royalty.

Shut in a well in the Oil and Gas Industry (0283028ct 026an 0259 w025bl) phrase. (Extractive engineering: Field development, Drilling) To shut in a well is to close off a well so that it stops producing. An emergency shutdown valve was installed on the wellhead to shut in the well at any time.

After obtaining production from a previously shut-in well, the well may be shut in again for a maximum term of five years as provided in the lease and subsection (h)(1) of this section.

Shut in a well in the Oil and Gas Industry To shut in a well is to close off a well so that it stops producing. well. Related wordsTo cap a well also means to seal a well off and to kill a well is to stop it from flowing by the use of mud or water to stop the pressure.

in clause (or shutin royalty clause) traditionally allows the lessee to maintain the lease by making shutin payments on a well capable of producing oil or gas in paying quantities where the oil or gas cannot be marketed, whether due to a lack of pipeline connection or otherwise.

In the petroleum industry, shutting-in is the implementation of a production cap set lower than the available output of a specific site. This may be part of an attempt to constrict the oil supply or a necessary precaution when crews are evacuated ahead of a natural disaster.

Oakland Michigan Shut-In Oil Royalty

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What is a shut in royalty?

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What does a shut in oil well mean?

What is a shut in clause?

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Interesting Questions

What is Oakland Shut-In Oil Royalty940139?

Why is it called 'Shut-In'?

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How do I determine if I own oil rights in the Oakland area?

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What are the reasons that oil wells are shut-in?

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