Oil and Gas Leases. The Leases which constitute any part of the Borrowing Base Oil and Gas Properties are in full force and effect as to those portions thereof that comprise the Borrowing Base Oil and Gas Properties.
Oil and Gas Leases. Section 390 of the Energy Policy Act of 2005 establishes CEs for five types of actions related to oil and gas exploration and development conducted pursuant to the Mineral Leasing Act (30 U.S.C. et seq., as amended) on Federal oil and gas leases. For guidance on using these CEs see the Deputy Chief’s 1950 memo to Regional Foresters dated September 1, 2011, entitled Energy Policy Act of 2005, Adjusted Use of Section 390 Categorical Exclusions for Oil and Gas due to Western Energy Alliance x. Xxxxxxx, No. 10-237 (X. Xxx. August 12, 2011). (The portions of the June 9, 2010 Deputy Chief’s 1950 memo to Regional Foresters not addressed in the September 1, 2011 memo remain in effect.) Section 390 (42 U.S.C. 15942) provides as follows:
Oil and Gas Leases. 9.8.1 The Buyer may declare the title to the Premises unmarketable if it is reasonably determined by the Buyer that there is an oil and gas lease affecting the Premises, unless the Seller has complied with Section 5.2 or any of the following are true: (1) the Premises have been fully released from the lease by recorded instrument signed by the lessee (a mere release of surface rights shall not be sufficient for purposes of this exception); (2) the lease has been terminated of record by the lessee; or (3) the landowner has canceled the lease in accordance with New York General Obligations Law Section 15- 304.
Oil and Gas Leases. Notwithstanding anything to the contrary contained in this Lease, Lessor shall have the right at any time or from time to time to execute oil, gas or mineral leases with respect to the Premises; provided, that neither Lessor nor said mineral lessee shall have the right, without prior written consent of Lessee, to enter upon the surface of the Premises or the upper 500 feet thereof to explore for, produce, or extract oil, gas or other minerals. All oil, gas or mineral leases hereafter executed by Lessor with respect to the Premises shall contain a provision making the lessee therein primarily liable to Lessor and Lessee, as their respective interests may appear, for all damages to livestock, crops, vines, trees, fences, roads, ditches, buildings and other improvements on the Premises, caused by said lessee's operations thereon. Lessor hereby agrees to indemnify and hold harmless Lessee from and against all such damages.
Oil and Gas Leases. All right, title and interest in the following Oil and Gas Leases: LEASE NO: G221501 LEASE DATE: 6/1/26 LESSOR: Xxx X. Xxxxxx Xxxxxx, et vir LESSEE: Xxxx. X. Xxxxx RECORDED: Book 4, Page 227, Oil and Gas Lease Records DESCRIPTION: Township 00 Xxxxx, Xxxxx 00 Xxxx, XXXX, Xxx Xxxxxx, Xxx Xxxxxx Section 24: E/2 SW/4 and W/2 SE/4, containing 160 acres, more or less LEASE NO: G221519 LEASE DATE: 5/24/26 LESSOR: Xxxxx X. Xxxxxxxx, a widow LESSEE: Xxxx. X. Xxxxx RECORDED: Book 4, Page 251 DESCRIPTION: Township 00 Xxxxx, Xxxxx 00 Xxxx, XXXX, Xxx Xxxxxx, Xxx Xxxxxx Section 25: NW/4, containing 160 acres, more or less LEASE NO: G221520 LEASE DATE: 6/1/26 LESSOR: Xxxx X. Xxxxxx, a widow LESSEE: Xxxx. X. Xxxxx RECORDED: Book 4, Page 261 DESCRIPTION: Township 00 Xxxxx, Xxxxx 00 Xxxx, XXXX, Xxx Xxxxxx, Xxx Xxxxxx Section 13: SW/4, containing 160 acres, more or less LEASE NO: G221537 LEASE DATE: 8/1/45 LESSOR: United States of America (LC-063965) LESSEE: Xxxxxxxx Petroleum Company RECORDED: Not Recorded DESCRIPTION: Township 00 Xxxxx, Xxxxx 00 Xxxx, XXXX, Xxx Xxxxxx, Xxx Xxxxxx Section 24: E/2 SE/4, containing 80 acres, more or less LEASE NO: NM225157-a LEASE DATE: 1/16/45 LESSOR: Xxxxxxx Xxxxxx, et al LESSEE: Xxxxxxxxxx & Xxxxx, Inc. RECORDED: Book 58, Page 103 DESCRIPTION: Township 00 Xxxxx, Xxxxx 00 Xxxx, XXXX, Xxx Xxxxxx, Xxx Xxxxxx Section 18: N/2 NE/4, containing 80 acres, more or less LEASE NO: NM225157-b LEASE DATE: 1/16/45 LESSOR: X. X. Xxxxx, et al LESSEE: Xxxxxxxxxx & Xxxxx, Inc. RECORDED: Book 58, Page 107 DESCRIPTION: Township 00 Xxxxx, Xxxxx 00 Xxxx, XXXX, Xxx Xxxxxx, Xxx Xxxxxx Section 18: N/2 NE/4, containing 80 acres, more or less LEASE NO: NM225157-c LEASE DATE: 7/7/45 LESSOR: Western Gas Company LESSEE: Xxxxxxxxxx & Xxxxx, Inc. RECORDED: Book 58, Page 136 DESCRIPTION: Township 00 Xxxxx, Xxxxx 00 Xxxx, XXXX, Xxx Xxxxxx, Xxx Xxxxxx Section 18: N/2 NE/4, containing 80 acres, more or less LEASE NO: NM225158-a LEASE DATE: 3/2/39 LESSOR: Xxxxxx Xxxx, a widow LESSEE: Xxx X. Xxxxxx RECORDED: Book 35, Page 474 DESCRIPTION: Township 00 Xxxxx, Xxxxx 00 Xxxx, XXXX, Xxx Xxxxxx, Xxx Xxxxxx Section 24: SW/4 NE/4, E/2 NE/4, S/2 NW/4 NE/4, containing 140 acres, more or less LEASE NO: NM225158-b LEASE DATE: 3/2/39 LESSOR: Xxxxxxx Xxxxxxxxxx, et vir LESSEE: Xxx X. Xxxxxx RECORDED: Book 35, Page 481 DESCRIPTION: Township 00 Xxxxx, Xxxxx 00 Xxxx, XXXX, Xxx Xxxxxx, Xxx Xxxxxx Section 24: SW/4 NE/4, E/2 NE/4, S/2 NW/4 NE/4, containing 140 acres, more or less LEASE NO: NM2251...
Oil and Gas Leases. To the Knowledge of Seller:
Oil and Gas Leases. The Leases which constitute any part of the Borrowing Base Oil and Gas Properties are in full force and effect as to those portions within the Borrowing Base Oil and Gas Properties, are valid, subsisting leases as to those portions within the Borrowing Base Oil and Gas Properties to which they pertain and all rentals, royalties and other amounts due and payable in accordance with the terms of the Leases as to those portions within the Borrowing Base Oil and Gas Properties, overriding royalties, net profits or other production burdens have been duly paid or provided for; the obligations to be performed under the Leases as to those portions within the Borrowing Base Oil and Gas Properties have been duly performed; and the Borrower is not aware of any default by any third party under any of the Leases with respect to such third party's obligations.
Oil and Gas Leases. Unit and Cooperative Agreements When, under the terms of a unit agreement establishing the succession of the unit operator, a replacement operator must be selected by a majority of the working interests by acreage, a challenge to BLM's approval of a document designating a new operator which was executed by working interest holders who collectively hold more than 50 percent of the working interest acreage is properly denied. It is also proper for BLM to deny approval of documents attempting to effect a change in the designation of a unit operator which do not comport with unit agreement provisions providing for unit operator succession. APPEARANCES: Xxxxxxx X. Xxxxxxx, President, Xxxxxxx Oil and Gas, Inc., Farmington, New Mexico, and Xxxxxx Xxxxxx, Esq., Farmington, New Mexico, for Xxxxxxx Oil & Gas, Inc.; Xxxxxxx X. Xxxxxx, Land Manager, Maralex Resources, Inc., Denver, Colorado, for Maralex Resources, Inc. OPINION BY ADMINISTRATIVE JUDGE XXXXXX Xxxxxxx Oil and Gas, Inc. (Xxxxxxx), and Maralex Resources, Inc. (Maralex), have each appealed from that portion of separate, but nearly identical, June 5, 1998, decisions issued by the Colorado State Office, Bureau of Land Management (BLM), on State Director Review (hereinafter SDR) (SDR CO 98-1 and SDR CO 98-2) affirming an April 24, 1998, decision by the Reservoir Management Team, Colorado State Office, BLM, approving the removal of Maralex and designating Riviera Drilling & Exploration Company (Riviera) as successor Unit Operator for the Ragged Mountain Unit (14-080001-19467) (COC47672X), and affirming a May 11, 1998, determination by the same Reservoir Management Team to return unapproved documents naming Xxxxxxx as successor Unit Operator for that Unit. Teton Energy Company, Inc., was named as the Unit Operator when the Ragged Mountain Unit was created by a Unit Agreement executed May 22, 1980, and approved by BLM on September 24, 1980. When formed, the Unit embraced 40,720.83 acres (of which 39,457.90 were Federally owned) in Gunnison, Pitkin, Delta, and Mesa Counties, Colorado. Effective December 10, 1991, the Unit was contracted to 3,284.99 acres. 1/ Xxxxxxx was appointed successor Unit Operator on August 1, 1996, and the assignment of Xxxxxx as the successor Unit Operator was accepted by BLM on October 22, 1996. On November 17, 1997, Xxxxxxx submitted a copy of a Resignation of Unit Operator document indicating the resignation of Maralex as Unit Operator and a Designation of Successor Operator, dated Nove...
Oil and Gas Leases. {¶ 16} The oil and gas lease is central to the oil and gas industry. 1 Xxxxx, Xxxxx & Xxxxxxxxx, The Law of Oil and Gas Leases, foreword (2d Ed.2014). “The principal or basic consideration for a [mineral rights] lease is the agreement by the lessee to develop the premises for oil and gas and pay royalties thereon to the lessor.” Id. at Section 3.01(2). In this context, “royalty” generally refers to the “share of the product or profit reserved by the owner of land for permitting another to develop his land for oil or gas.” Id. at Section 6.01.
Oil and Gas Leases. Except for the Approved O&G Leases, no Subsidiary Obligor shall (i) execute any Lease permitting the exploration, extraction, drilling, productions and similar activities for oil, gas and other hydrocarbons and other minerals in and under the Land comprising any part of the Collateral, or (ii) grant, assign, transfer or convey to any Person (other than another Subsidiary Obligor), any right, title or interest in and to any oil, gas and other hydrocarbons and other minerals in and under the Land comprising any part of the Collateral, in either case, without the prior written approval of Administrative Agent, which approval will not be unreasonably withheld so long as such Lease or conveyance instrument, as applicable, contains an absolute and unconditional waiver by the holder or lessee to use the surface of the Land for such activities or for any activity that would otherwise interfere with the current use of the Land and Improvements.
