Negotiating oil and gas leases for the lessor

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

OSTI ID:6166196

Hinton, Jr, Q T

Oil companies use a form labeled a Producers 88 for lease agreements, although there is no standard form. The lessor with moderate bargaining leverage will usually have to accept the printed form lease offered, but a potential lessor should realize that it is possible to attach a rider. The author discusses provisions likely to be included in the Producers 88 form, and suggests modifications the lessor should consider if he has enough bargaining leverage to demand some changes but not enough leverage to insist upon use of his own lease form. The article covers the granting, habendum, royalty, shut-in well, pooling and unitization, delay rental and partial release, operations and offsetting production, assignment, warranty, and force majeure clauses.

• Research Organization: Broadhurst, Brook, Mangham and Hardy, Houston, TX
• OSTI ID: 6166196
• 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
GEOLOGIC DEPOSITS
INCOME
LAND LEASING
LEASES
LEASING
LEGAL ASPECTS
MINERAL RESOURCES
NATURAL GAS DEPOSITS
PETROLEUM DEPOSITS
RESOURCES
ROYALTIES
WELL DRILLING