Negotiating oil and gas leases for the lessee
Journal Article
·
· Natural Resources and Environment; (United States)
OSTI ID:6417713
Increases in oil and gas prices have made lease negotiations the rule. 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 defines three key clauses in modern leases: granting, term, and drilling-delay rental clauses. Others of importance are an operations, a force majeure, a shut-in royalty, and pooling and unitization clauses.
- Research Organization:
- Univ. of Tulsa, OK
- OSTI ID:
- 6417713
- 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
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