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Top leasing is a highly competitive practice whereby oil and gas interests that are already subject to existing lease are leased again. In general, this method of mineral leasing is used in areas where existing leases will expire in the near future.
Wellbore Only means the investors will acquire an interest in a single wellbore, and not the remainder of the Lease(s) on which the wellbore is located.
Definition of oil and gas lease : a deed by which a landowner authorizes exploration for and production of oil and gas on his land usually in consideration of a royalty.
Held by production is an oil gas industry term indicating a property is under lease and that the lease is being perpetuated in the secondary term by the production of oil or gas in paying quantities. An oil gas may be in HBP status for many years if the wells located on the leased land keep producing.
To calculate your oil and gas royalties, you would first divide 50 by 1,000, and then multiply this number by . 20, then by $5,004,000 for a gross royalty of $50,040. Once you calculate your gross royalty amount, compare it to the number you see on your royalty check stubs.
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A landowner can also insert a clause in the lease to take royalty either in kind or in value. Taking royalty in kind means that the Lessor can take physical possession of the oil, gas or liquids once they leave the ground, and he may market the production himself.
An Assignment, or an assignment of contract, is a document that allows one party to transfer the rights and benefits of a contract to another party.
The Wellbore Interest shall include, without limitation, the right to produce, operate, maintain, and repair the Well, along with the right to own all oil, gas, and other hydrocarbons produced from the Well, subject to any existing burdens on said production.
A mineral lease is a contractual agreement between the owner of a mineral estate (known as the lessor), and another party such as an oil and gas company (the lessee). The lease gives an oil or gas company the right to explore for and develop the oil and gas deposits in the area described in the lease.
A top lease is an oil and gas lease covering a mineral estate that is cur- rently under a valid, existing oil and gas lease.

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