Get the free SHUTIN GAS ROYALTY PAYMENT FORM

SHUT IN GAS ROYALTY PAYMENT FORM New Mexico State Land Office Oil, Gas, & Minerals Division Make check payable to: NM COMMISSIONER OF PUBLIC LANDS PAYMENT FOR: LEASE NUMBER: ASSIGNMENT NUMBER: Well

How to fill out shutin gas royalty payment

How to fill out shutin gas royalty payment:

1. Gather all necessary information: Before filling out the shutin gas royalty payment, make sure you have all the required details at hand. This may include your identification information, the lease agreement or contract, production data, and any other relevant documents.
2. Understand the payment process: Familiarize yourself with the specific procedures and guidelines for filling out the shutin gas royalty payment. Each company or organization may have slightly different requirements, so it is important to read and understand the instructions thoroughly.
3. Fill in your personal information: Start by providing your personal details, such as your name, address, contact information, and any other information required to identify you as the recipient of the royalty payment.
4. Provide lease or contract information: Include the relevant lease or contract details, such as the lease number, effective date, and any other information requested. This helps the company identify the specific well or property associated with the royalty payment.
5. Report production data: In this section, you need to include the production data for the shutin gas well that generates royalties. This may include the total shutin volume, shutin duration, any applicable shutin gas royalty rate, and the shutin gas value. Ensure that all figures are accurate and properly calculated.
6. Double-check and review: Before submitting the shutin gas royalty payment, it is crucial to double-check all the information provided. Review every section to ensure accuracy, completeness, and compliance with the instructions provided. This will help prevent any potential delays or errors in processing your payment.

Who needs shutin gas royalty payment:

1. Gas well operators: Shutin gas royalty payment is typically required for gas operators who temporarily halt or restrict gas production due to various reasons, such as maintenance, market conditions, or regulatory requirements. The operator needs to fulfill their royalty obligations to the mineral owners for the shutin period.
2. Landowners or mineral owners: Shutin gas royalty payment is needed by landowners or mineral rights owners who have leased their gas rights to operators. They receive royalties based on the production and sales of shutin gas during the temporary shut-in period. This payment compensates them for their share of the gas produced, even if it was not sold during that time.
3. Royalty payment recipients: Any individual or entity entitled to receive shutin gas royalty payments, whether it's the landowner, mineral owner, or their designated representative, should be aware of the shutin gas royalty payment process. They need to understand the necessary steps involved in filling out the payment forms to ensure timely and accurate payments.

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What is shutin gas royalty payment?

Shutin gas royalty payment is the payment made to the owner of a gas well when production is shut in due to unforeseen circumstances.

Who is required to file shutin gas royalty payment?

The operator of the gas well is required to file shutin gas royalty payment.

How to fill out shutin gas royalty payment?

To fill out shutin gas royalty payment, the operator must provide information on the amount of gas production shut in, the duration of the shut-in period, and calculate the royalty payment based on the terms of the lease agreement.

What is the purpose of shutin gas royalty payment?

The purpose of shutin gas royalty payment is to compensate the owner of the gas well for lost production during the shut-in period.

What information must be reported on shutin gas royalty payment?

The shutin gas royalty payment must include details such as the well identification number, the amount of gas production shut in, the duration of the shut-in period, and the calculation of the royalty payment.