Sample participation agreement oil and gas

Alberta Gross Overriding Royalty Agreement

Prepare a Gross Overriding Royalty Agreement with this downloadable template contract for oil and gas properties in the Province of Alberta.

• Gross Royalty . The Grantee receives a gross overriding percentage royalty on its interest in petroleum substances on the lands covered by the agreement. The royalty is free and clear of any costs involved in exploration, drilling, operation, production, transportation, etc.
• Sale of Interest . The Grantor, acting as agent for the Grantee, will sell the petroleum substances on the same terms and conditions as its own interest, so that the Grantee is entitled to any market available.
• Funds Held in Trust . If royalties are paid to the Grantor by a purchaser, those funds are held in trust by the Grantor until they are paid to the Grantee.
• Election to Take in Kind . The Grantee has the right, upon proper notice, to elect to takes its royalty percentsage of production in kind.
• Lien Rights . The Grantee has the right to a lien over the Grantor's interest to secure payment of royalties.
• Governing Laws . This Gross Overriding Royalty Agreement is governed by the laws of the Province of Alberta.

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Alberta Inclusion Agreement for Oil and Gas Leases

Prepare an Inclusion Agreement for oil and gas leases in Alberta with this downloadable easy template.

• The purpose of the Inclusion Agreement is to include subsequently acquired petroleum and natural gas leases in a previously executed agreement for exploration and development.
• The form is written for use in the Province of Alberta, Canada but can be modified for other jurisdictions.
• This is a reusable legal form which can be downloaded, saved as a template, and used as often as you require.
• The Inclusion Agreement template is available in MS Word format. Other formats available on request.

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Alberta Surface Lease Agreement

Prepare a surface lease agreement for oil and gas assets on rural farm land with this downloadable template lease form for lands located in the Province of Alberta.

• Parties . The agreement is between the landowner and the oil company which will extract the resources.
• Use of Land . The lease allows the oil company to use the land for exploration, development and production of oil, gas, and related hydrocarbons.
• Rent . The agreement breaks down the first year's rent and annual rent to show how compensation is allocated for market value (first year), loss of use, adverse effect, general disturbance (first year), and additional wells.
• Maintenance of the Land . The oil company agrees to apply good soil conservation practices to strip, conserve and restore the topsoil, and will construct proper sludge pits and dispose of the sludge in accordance with the laws.
• Surrender . The drilling company has the right to surrender and terminate all or a portion of the leased lands at any time, on proper notice, but will not receive a refund of any rent paid in advance.
• Governing Laws . The agreement is intended for use in the Province of Alberta.
• How to Get the Form . Add the Alberta Surface Lease Agreement to your shopping cart and check out. When your payment has gone through, you can download the digital template to your PC, laptop or tablet.