Negotiating Oil and Gas Leases: A Book for Land Owners

Negotiating Oil and Leases: A Book For Land Owners Chapter 1: Introduction and Definitions, Definitions in Oil and Gas Law, Oil and Gas Lease, Mineral Interest, Mineral Interest Implied Easement, Mineral Interest Incidents, Surface Interest, Sovereignty, Severability, Leasehold Interest, Royalty Interest, Overriding Royalty Interest (ORRI), Enforceability of a Contract, Key Definitions of Terms in Oil and Gas Leases, Royalty, Primary Term, Lease Bonus, Delay Rental. Chapter 2: Goals and Strategies When Negotiating an Oil and Gas Lease, Two Kinds of Oil Companies, Do-Nothing-For-the-Next-Several-Years Oil Companies, Drill-or-Shoot-Seismic-In-12-Months-Or-Less Oil Companies, Do-Nothing-For-the-Next-Several-Years Oil Companies, Not Picky, Land Speculators, The Herd Mentality, Drill-or-Shoot-Seismic-In-12-Months-Or-Less Oil Companies, How do I know what kind of Oil Company I’m dealing with? How do I negotiate with any given company? Strategy for Do-Nothing-For-the-Next-Several-Years Companies, Strategy for Drill-or-Shoot-Seismic-In-12-Months-Or-Less Oil Companies, An Offer to Go Forward in Baby Steps, Make Finding Partners and or Capital Easy, 12 Months is Plenty of Time, Seismic, Royalty. Chapter 3: Oil and Gas Leases Clause-by-Clause Mineral Interest, Mineral Interest Implied Easement, Mineral Interest Incidents, Surface Interest, Sovereignty, Severability, Leasehold Interest, Royalty Interest, Overriding Royalty Interest, Oil and Gas Leases, Enforceability of a Contract, Key Clauses in Oil and Gas Leases, Granting Clause, Mother Hubbard Clause, In Gross Provision, Term Clause (Habendum Clause), Dry Hole & Cessation of Production Clauses, Rental Clause, Royalty Clause, Shut-in Royalty Clause, Pooling Clause, Proportionate Reduction Clause, Surrender Clause, Surface Rights Clause, Unitization Clause, Example Oil and Gas Lease. Chapter 4: Questions to Ask Before You Sign an Oil and Gas Lease, What land tract or tracts are included in this lease? What is the gross acreage that will be assumed to be covered by this lease? What substances are covered by the lease? How long is the Primary Term of the lease? How can the lease be extended beyond the primary term? Are delay rentals due during the primary term? What happens if the oil company drills a dry hole? Is this a Paid-Up Lease or is there a rental clause? What is the Royalty? Is there a Shut-In Royalty Clause? Is there a Pooling Clause? Is there a Surface Rights Clause? Is there a Unitization Clause? Is there a Pugh Clause? Glossary of Oilfield Terms, Oil and Gas Web Sites, About the Author.