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Gross Proceeds

Started this discussion. Last reply by bill h Aug 10, 2023. 7 Replies

Is this a gross proceeds clause… Gross Proceeds at WellheadIt is agreed between the Lessor and Lessee that, notwithstanding any language herein to the contrary, royalties payable on gas and gaseous…Continue

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bill h replied to Matt's discussion 'Gross Proceeds'
"Nancy, which gas company do you work for?"
Aug 10, 2023
Nancy Mosley replied to Matt's discussion 'Gross Proceeds'
"I am concerned with the severance taxes and especially ad valorem taxes being considered an ok deduction, and not one to be avoided. Until very recently, these were the responsibility of the producer. Of course until fairly recently the royalty %…"
Jul 30, 2023
David Cain replied to Matt's discussion 'Gross Proceeds'
"Matt, I agree with Dott, the Royalty clause is extremely important and you need to get a good O&G attorney to run through it with you.  I am no lawyer, but I would be concerned about the "...at wellhead" portion.  What is…"
Jul 30, 2023
Matt replied to Matt's discussion 'Gross Proceeds'
"Thank you. Good advice. Im going to get a lawyer I have dealt with on another OGM issue."
Jul 29, 2023
Dott replied to Matt's discussion 'Gross Proceeds'
"Matt, This is one of the most important clauses in your lease. Always have an Oil & Gas Attorney review it because the Landman twists the wording around to say one thing at the beginning of the clause but then the opposite  in another…"
Jul 28, 2023
Matt replied to Matt's discussion 'Gross Proceeds'
"Thanks Nancy. Makes sense"
Jul 27, 2023
Nancy Mosley replied to Matt's discussion 'Gross Proceeds'
"To me, the part about being subject to taxes makes this not a gross proceeds clause. I am not a lawyer."
Jul 27, 2023
Matt posted a discussion

Gross Proceeds

Is this a gross proceeds clause… Gross Proceeds at WellheadIt is agreed between the Lessor and Lessee that, notwithstanding any language herein to the contrary, royalties payable on gas and gaseous substances, including casinghead gas, shall be based upon the MMBTu value of unprocessed gas at the wellhead, free of all costs, charges or deductions of producing, treating, compressing, transporting and marketing said gas to such purchaser, which royalty, however, shall be subject to such…See More
Jul 27, 2023
7 Comments
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Jul 27, 2023
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At 4:00pm on November 2, 2023, Erica Woodward said…

I need to have a word privately,Could you please get back to me on ( mrs.ericaw1@gmail.com )Thanks.

 
 
 

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