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The foundational legal document of the U.S. oil and gas industry is the oil and gas lease. [6] Oil and gas producing companies do not always own the land they drill on. Often, the company (the lessee) leases the mineral rights from the owner (the lessor). Major points in a lease include the description of the property, the term (duration), and ...
The continuous drilling provision was created in order to provide more certainty in the face of inconsistent court rulings. While a continuous drilling provision may provide the parties with a more reliable test to determine whether drilling and operations have been continuously prosecuted (so as to hold a lease past its primary term), the inclusion of the provision could prove fatal to a ...
The Mineral Leasing Act of 1920 30 U.S.C. § 181 et seq. is a United States federal law that authorizes and governs leasing of public lands for developing deposits of coal, petroleum, natural gas and other hydrocarbons, in addition to phosphates, sodium, sulfur, and potassium in the United States.
Mineral rights are property rights to exploit an area for the minerals it harbors. Mineral rights can be separate from property ownership (see Split estate).Mineral rights can refer to sedentary minerals that do not move below the Earth's surface or fluid minerals such as oil or natural gas. [1]
An advertisement in The Pittsburgh Press on January 4, 1922, stated that Skelly Oil Company was formed to take over the oil properties of Skelly and of the Skelly - Sankey company. [3] Chesley Coleman Herndon was a practicing attorney in Tulsa when he won several court victories against William Skelly involving oil leases on Osage Indian land.
(Reuters) -Oil and gas companies and environmental groups on Monday filed dueling legal challenges to the Biden administration's five-year plan to offer drilling leases in the Gulf of Mexico.
In the oil and gas industry, exploration and production activities can be extremely expensive, and there is always the risk that a well will not produce the expected results. A dry-hole clause is used to specify how the costs of drilling a dry hole (a well that does not produce a viable resource) will be shared between the parties involved in ...
Buildings and structures in Harvey County, Kansas (4 C, 10 P) E. Education in Harvey County, Kansas (4 C, 8 P) G. Geography of Harvey County, Kansas (3 C) P.