Compliance Obligations

Lessee compliance obligations are the lease terms and contract provisions outlined in Heritage lease agreements. Compliance obligations include, but are not limited to the following terms:

  • Demised Estate & Leased Substances
    (Trespass – i.e. Producing unleased substances or substances from unleased formations)
  • Term
  • Rentals
  • Non-Producing Formations
  • Royalties
  • Taxes Payable by Lessor
  • Offset Wells
  • Density
  • Rateable Production
  • Pooling
  • Reports by the Lessee
  • Inspections by the Lessor of the Lessee’s Operations
  • Operations
  • Environmental Provisions

  • Insurance Provisions
  • Records
  • Default
  • Surrender
  • Removal of the Lessee’s Equipment
  • Abandonment
  • Reduction in Spacing
  • Removal of Charge
  • Title
  • Quiet Enjoyment
  • Indemnity
  • Assignment
  • Manner of Payment
  • Interest
  • Notices
  • Confidentiality
  • Joint and Several Liability
  • Greenhouse Gas Emissions

Lessee compliance obligations are the lease terms and contract provisions outlined in Heritage lease agreements. Compliance obligations include, but are not limited to the following terms: