Leases
- Lease Amendments
- Extensions of Lease Terms
- Transfers of Ownership
- Deferred Drilling Application
- Pooling UT Leases:
◊ Procedures
◊ Application Form [Word 6.0 | PDF ] - Oil & Gas Leases Required Operating & Reporting Procedures
- Field Manual of Required Operating Procedures for Oil & Gas Leases
- Rate and Damage Schedule
- UT Oil & Gas Leases Query
Amendments
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.
Contact:
Georgia Pruitt at ude.metsystu@ttiurpg or
James Holtzclaw at ude.metsystu@walcztlohj
Extensions
If production of oil or gas has not been obtained at the expiration of the primary term of the UT lease, but drilling operations are being conducted, the lessee may apply in writing to extend the UT lease term for a period of 30 days. The application must be filed on or before the expiration of the primary term. Additional extensions of 30 days each may be granted up to an aggregate of 360 days. Payment for an extension must be received on or before the last day of the primary term or current extension. The extension fee as adopted by the Board for Lease of University Lands on May 16, 2001 is $20.00 for each acre in the lease for each 30-day extension period.
- Application for Extension of Oil and Gas Lease [ Word 6.0 | PDF ]
- Affidavit of Drilling Operations on University Lands [ Word 6.0 | PDF ]
Contact:
Georgia Pruitt at ude.metsystu@ttiurpg or
James Holtzclaw at ude.metsystu@walcztlohj