Negotiating oil and gas leases for the lessor

Journal Article · · Natural Resources and Environment; (United States)

OSTI ID:6227269

Hinton, Jr, Q T

A lessor will usually have to accept the printed form lease offered by an oil company, most of which have their own version of what is presented as a standard Producers 88 form. A potential lessor can achieve many of his own aims by altering the printed provisions or by adding a rider. The author explains the provisions most likely to be included in the form, and suggests modification for the lessor who has enough bargaining leverage to demand some changes. He also suggests provisions that lessors with sufficient bargaining leverage can incorporate within their own forms. Key components are the lease 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: 6227269
• Journal Information: Natural Resources and Environment; (United States), Journal Name: Natural Resources and Environment; (United States) Vol. 1:2
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700* -- Petroleum-- Economics
Industrial
& Business Aspects
CONTRACTS
GEOLOGIC DEPOSITS
INCOME
LAND LEASING
LEASES
LEASING
LEGAL ASPECTS
MINERAL RESOURCES
PETROLEUM DEPOSITS
RESOURCES
ROYALTIES