Shut–In Gas Rental Clause Sample Clauses

Shut–In Gas Rental Clause. If a well capable of producing Gas, is completed and shut–in during the primary term for lack of a market or of a pipeline, this lease shall nevertheless remain in full force and effect during the primary term by resuming rental payments pursuant to Paragraph 4(a). If, after the expiration of the primary term, all xxxxx on the leased premises or in a Unit that includes all or a part of the leased premises, capable of producing Gas in paying quantities, are shut-in, or production therefrom is ceased due to adverse economic conditions, and this lease is not otherwise kept in force pursuant to the terms hereof, the Lessee may maintain this lease for a period of one year by tendering to Lessor a shut-in rental for such annual period equal to twice the annual delay rental per acre herebefore set forth for the number of acres then covered by this lease, or Three Hundred Dollars ($300.00), whichever is greater. The shut-in rental shall be paid or tendered to the Lessor at the beginning of each annual period in which all xxxxx are so shut-in. For the purpose of this clause the “annual period” will begin on the month and day of the lease date. Whereas delay rental payments are required to be received in advance of the lease anniversary date, the receipt of shut-In payments under this clause shall be received within 30 days following the lease anniversary date. Upon payment of the shut-in rental as provided herein, this lease will continue in force as if production were being obtained from the leased premises. After the end of the primary term, this lease may not be maintained in force solely by reason of the shut-in rental payments, as provided heretofore, for any one shut-in period of more than thirty-six (36) consecutive months, or for more than sixty (60) cumulative months. The basis of the time limit provisions of this clause will be the production records of the state regulatory authority. The consecutive and cumulative month limits will include every month after the expiration of the primary term for which a well is reported to be shut-in with no production. It is understood that this clause shall also apply to any well where the Gas–Oil ratio is such that the Lessee is not permitted to operate such well without the use or sale of Gas. Every payment due as a shut–in rental should be identified as such on the payment receipt.
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