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Alberta Overriding Royalty Agreement
Write up an Overriding Royalty Agreement pursuant to a Farmout and Option Agreement with this customizable template for Alberta oil & gas properties.
- Parties. The Agreement is between (1) the grantor who owns interests in leases and royalty lands and (2) the grantee who is being allowed to reserve royalties out of the earned interest.
- Royalty Calculations. The agreement contains methods of calculating the royalties for crude oil, natural gas, and condensate.
- Overriding Royalty. The royalty under this Agreement is not subject to other royalties, burdens or encumbrances payable on the royalty lands.
- Agency. The grantee appoints the grantor as its agent to enter into contracts and to sell petroleum substances on the same terms and conditions as it sells its own share.
- Management Fee. The grantee has the right to take its share in kind, provided that if it does not take possession and separately dispose of its own share, it will pay the grantor a management fee equivalent to a percentage of gross proceeds received from such share.
- Governing Laws. This Overriding Royalty Agreement is intended for use in the Province of Alberta, Canada and is governed by Alberta and Canadian law.
- Format. The document provided in MS Word format and can be easily edited to fit your circumstances. Other formats available on request.
$29.99
Alberta Pooling and Farmout Agreement
Prepare a Pooling and Farmout Agreement to pool several interests in Alberta oil and gas properties with this downloadable contract template.
- The agreement deals with ownership, operation, development of and production of petroleum substances from the pooled lands.
- Operations on the pooled lands will be conducted without regard to boundaries of the title documents, as if the pooled lands were covered by a single petroleum and natural gas lease.
- Each party holds its title documents in trust for the other parties, insofar as they relate to the pooled lands.
- Production, revenue and expenses are allocated to the parties according to their respective pooled interest.
- The pooling arrangement will terminate if the farmee fails to earn its earned interest.
- The farmee will spud the test well at its sole cost and risk, and will then continue drilling to the contract depth, log and test, and either complete or cap or abandon the well in accordance with the agreement and the Regulations.
- Provisions for drilling a substitute well if serious difficulties are encountered and the first well is abandoned.
- The CAPL Operating Procedure will govern.
- This Alberta Pooling and Farmout Agreement can be easily edited to fit your circumstances.
$29.99
Alberta Pooling and Participation Agreement
Prepare a Pooling and Participation Agreement with this contract form covering Alberta oil and gas properties.
- Parties. The Agreement is between several parties who want to pool their interests and appoint an operator over the properties.
- Pooling. Operations on the pooled lands will be conducted without regard to boundaries of the title documents, and as if the pooled lands were covered by a single petroleum and natural gas lease.
- Title Held in Trust. Each party holds its title documents in trust for the other parties, insofar as they relate to the pooled lands.
- Allocation of Revenues and Costs. Production revenue and expenses are allocated among the parties according to their respective pooled interest.
- Joint Well. The operator, on behalf of the parties, will spud a joint well and will continuously drill, log and test, and either complete, cap or abandon the joint well in accordance with the agreement.
- Term of Agreement. The agreement will stay in effect as long as one or more wells is capable of producing.
- Governing Laws. This Pooling and Participation Agreement template is intended for use within the Province of Alberta, Canada.
$29.99
