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How long is a Federal APD good for?

An approved APD is valid for two years or until the lease expires, whichever occurs first, but the BLM may grant a two-year extension to allow the operator more time to drill.

What is a retained acreage clause?

A retained-acreage provision is a negotiated provision in favor of the lessor. A retained-acreage provision requires the lessee to release land not assigned to a producing well (or active drilling/ reworking operations) at the end of the primary term.

How many oil leases has the Biden administration sold?

Of the 11 lease sales planned under the current program, seven have been held successfully. Interior held one more in November, auctioning off 80 million acres in the Gulf of Mexico in the largest offshore oil and gas lease sale in the nations history.

How long are federal oil leases good for?

The primary term of a federal oil and gas lease is 10 years. The term is extended as long as the lease has at least one well capable of production.

What is assignment in oil and gas?

The assignment serves three basic functions. First, it is the operative document that assigns rights and delegates duties between the assignor and the assignee. 22/ Second, it allocates liabilities between the assignor and assignee and may create obligations in addition to those imposed by the oil and gas lease.

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Why is it called a Pugh clause?

To limit such outcomes, lessors often employ Pugh clauses, named after the creative Louisiana lawyer Lawrence G. Pugh, who first used such a clause in 1947 to prevent the holding of non-pooled acreage in his clients lease while only certain portions of the lease acreage were being held under pooling agreements.

What does oil and gas leasing mean?

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.

What does Pugh clause mean?

Defining the Pugh Clause 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.

What is a depth clause?

This clause will release specific formations or deep rights on lands covered by the lease back to you after the primary term of your oil and gas lease has expired.

What is the rule of non apportionment?

Non-Apportionment Rule The rulefollowed in the majority of statesthat royalties accruing under a lease on property that has been subdivided after the lease grant are not to be shared by the owners of the various subdivisions but belong exclusively to the owner of the subdivision where the producing well is located.

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