Oil And Gas Lease

What is it? A grant of the sole and exclusive right to extract oil and/or gas from beneath the surface of land. Such a lease is generally for a designated term of years and is subject to a payment of royalties in the event of production, the commencement of drilling

Added By: Devin

Send To Friends!

If you'd like to send the Oil And Gas Lease definition to yourself or to your friends/colleagues, just enter the e-mail addresses in the boxes below -

We hope you now understand the meaning of Oil And Gas Lease. If you need any more information on this term, please don't hesitate to contact us.