When did Pugh clauses start?

Pugh, who first used such a clause in 1947 to prevent the holding of non-pooled acreage in his client's lease while only certain portions of the lease acreage were being held under pooling agreements.

What is an oil and gas lease?

An oil or gas lease is a legal document where a landowner grants an individual or company the right to extract oil or gas from beneath the landowner's property. Courts generally find leases to be legally binding, so it is very important that you understand all the terms of a lease before you sign it.

Hillsborough Florida Amendment to Oil, Gas and Mineral Lease (to Provide for Gas Storage)

Name: Hillsborough Florida Amendment to Oil, Gas and Mineral Lease (to Provide for Gas Storage)
Brand: US Legal Forms
Rating: 4.83 (388 reviews)

Category:

Oil Gas and Minerals - Leases

State:

Multi-State

County:

Hillsborough

Control #:

US-OG-930

Format:

Instant download

Description

This form is an amendment to oil, gas and mineral lease to provide for gas storage.

Co-Employee Applicant Appraisal Form

View this form

Waiver and Release From Liability For Adul...

View this form

Affidavit of Heirship for Motor Vehicle

View this form

Letter Revoking an Offer

View this form

How to fill out Hillsborough Florida Amendment To Oil, Gas And Mineral Lease (to Provide For Gas Storage)?

If you need to get a reliable legal document supplier to find the Hillsborough Amendment to Oil, Gas and Mineral Lease (to Provide for Gas Storage), look no further than US Legal Forms. No matter if you need to launch your LLC business or take care of your asset distribution, we got you covered. You don't need to be knowledgeable about in law to locate and download the needed template.

You can select from over 85,000 forms arranged by state/county and situation.
The self-explanatory interface, variety of learning resources, and dedicated support make it easy to get and complete various paperwork.
US Legal Forms is a trusted service providing legal forms to millions of customers since 1997.

You can simply type to look for or browse Hillsborough Amendment to Oil, Gas and Mineral Lease (to Provide for Gas Storage), either by a keyword or by the state/county the form is intended for. After locating required template, you can log in and download it or save it in the My Forms tab.

Don't have an account? It's effortless to get started! Simply locate the Hillsborough Amendment to Oil, Gas and Mineral Lease (to Provide for Gas Storage) template and take a look at the form's preview and description (if available). If you're confident about the template’s terminology, go ahead and click Buy now. Register an account and choose a subscription option. The template will be instantly ready for download as soon as the payment is completed. Now you can complete the form.

Taking care of your law-related affairs doesn’t have to be pricey or time-consuming. US Legal Forms is here to prove it. Our rich variety of legal forms makes this experience less costly and more affordable. Set up your first business, arrange your advance care planning, draft a real estate agreement, or complete the Hillsborough Amendment to Oil, Gas and Mineral Lease (to Provide for Gas Storage) - all from the convenience of your home.

Form Rating

4.83

Satisfied(388)

Form popularity

FAQ

Pugh, who first used such a clause in 1947 to prevent the holding of non-pooled acreage in his client's lease while only certain portions of the lease acreage were being held under pooling agreements.

(a) (1) Any lease of oil or natural gas rights or any other conveyance of any kind separating such rights from the freehold estate of land shall expire at the end of ten (10) years from the date executed, unless, at the end of such ten (10) years, natural gas or oil is being produced from such land for commercial

In times of a low natural gas prices and reduced drilling, Lease Amendments, Modifications and Ratifications may become common. Gas companies may attempt to revive or restore a expired lease by presenting the royalty owner with a Lease Modification and Amendment.

A Pugh Clause is meant to prevent a lessee from declaring all lands under an oil and gas lease as being held by production, even if production only occurs on a fraction of the property.

The horizontal Pugh clause operates to release all lands not included in a pooled unit, typically at the end of the primary term or after cessation of continuous drilling operations, if the lease provides for same. The horizontal Pugh clause releases land at the surface as to all depths.

Generally, a pooling clause will allow the leased premises to be combined with other lands to form a drilling unit, wherein proceeds from production anywhere on the drilling unit are allocated according to the percentage of the acreage of each tract divided by the total acreage of the drilling unit.

The Mineral Leasing Act forbade any person or corporation from owning more than three oil and gas leases in any one state and more than one lease in any given oil field.

In general terms, the Pugh Clause provides that production from a unitized or pooled area located on or including a portion of the leased lands will not be sufficient to extend the primary term for the entire leasehold.

An oil or gas lease is a legal document where a landowner grants an individual or company the right to extract oil or gas from beneath the landowner's property. Courts generally find leases to be legally binding, so it is very important that you understand all the terms of a lease before you sign it.

More info

1.3 OCS Oil and Gas Program Planning and Decision Process . Minerals Management Service.1985However , thear for which results an published may be studied again in the future as changes in conditions warrant re - evaluation Results for areas 5.

Hillsborough Florida Amendment to Oil, Gas and Mineral Lease (to Provide for Gas Storage)

Description

Related forms

Viewed forms

How to fill out Hillsborough Florida Amendment To Oil, Gas And Mineral Lease (to Provide For Gas Storage)?

Show more info

Form Rating

Form popularity

FAQ

When did Pugh clauses start?

What is the maximum term for an oil and gas lease?

What is an amendment of oil and gas lease?

What is a Pugh clause in an oil and gas lease?

What is a horizontal Pugh clause?

What is a pooling clause in oil and gas lease?

What did the mineral leasing Act say?

What does a Pugh clause do?

What is an oil and gas lease?

More info

Trusted and secure by over 3 million people of the world’s leading companies