Negotiating oil and gas leases for the lessee

Journal Article · · Natur. Res. Environ.; (United States)

OSTI ID:6065315

Lowe, J S

Leasing arrangements have changed since the increase in oil and gas prices brought a surge in the value of oil and gas leases. Lease negotiation is now the rule rather than the exception. The keys to guiding an oil company client effectively in negotiating leases are (1) appreciating the function of the lease, (2) understanding how essential lease clauses work and interrelate, and (3) avoiding interference between essential clauses and negotiated provisions. The author reviews the granting, term, and drilling-delay rental clauses, as well as the operations, force majeure, shut-in royalty, and pooling and unitization clauses from the point of view of the lessee.

• Research Organization: Univ. of Tulsa, OK
• OSTI ID: 6065315
• Journal Information: Natur. Res. Environ.; (United States), Journal Name: Natur. Res. Environ.; (United States) Vol. 1:2; ISSN NRENE
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
021000* -- Petroleum-- Legislation & Regulations
03 NATURAL GAS
031000 -- Natural Gas-- Legislation & Regulations
29 ENERGY PLANNING, POLICY, AND ECONOMY
294002 -- Energy Planning & Policy-- Petroleum
294003 -- Energy Planning & Policy-- Natural Gas
CONSUMER GUIDES
DRILLING
ECONOMICS
GEOLOGIC DEPOSITS
INCOME
LAND LEASING
LEASES
LEASING
LEGAL ASPECTS
MINERAL RESOURCES
NATURAL GAS DEPOSITS
PETROLEUM DEPOSITS
RESOURCES
ROYALTIES
WELL DRILLING