An oil and gas lease may be amended to include certain lease provisions in the form adopted by the Board for Lease of University Lands at the time the lease is amended. Written application is required. At the present time, the Board for Lease of University Lands allows amendments of leases without payment of a fee. However, the Board for Lease reserves the right to impose a fee without notice.

Our more current lease forms include a re-working provision. Without this provision, a cessation of production from the lease could result in its automatic termination. In order to preclude the risk of automatic termination of the lease in the event of a stoppage in production, and to provide certainty to the parties in the event of such a cessation, lease agreements without this provision can be amended to add the 60 day re-working clause, shut-in royalty provisions, and take-in-kind royalty rights. Any amendment of the lease would not affect royalty obligations or other fees and payments as set out in the existing lease.

• Application for Oil and Gas Lease Amendment [ Word 6.0 | PDF ]

Contact: Georgia Pruitt at ude.metsystu@ttiurpg or
James Holtzclaw at ude.metsystu@walcztlohj