what creates requirement for new lease? new DO?

Hello,

broadly, I’m wondering what creates the requirement for a new lease and / or a new DO?

more specifically :

(a) if a company enters bankruptcy, but then emerges from bankruptcy with a new company name - does this require a new lease? a new DO? (b) if a company merges with another company (ie: Chevron and Texaco circa 2002), does this require a new lease? a new DO? (c) if a company purchases properties from another company, but both companies remain an ongoing entity - does the new company need to issue a new lease? a new DO? (d) if a pooling unit is created, does this initiate requirement for a new lease? I assume this would create a new DO, but not certain. (e) if a company changes from one type of organization to another type of organization (ie: change from LP to LLC), does this require a new lease? a new DO?

thank you

A lease stays in effect as long as its terms are met. A change in revenue ownership will trigger a new DO to the owners that changed. It’s totally up to an operator if they want to accept those of the previous operator or they want to issue new ones.

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