Author: Mike May P. E.
Publisher:
ISBN: 9780615437484
Category : Oil and gas leases
Languages : en
Pages : 270
Book Description
Negotiating Oil and Leases: A Book For Land OwnersChapter 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-ClauseMineral 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.
Negotiating Oil and Gas Leases
Author: Mike May P. E.
Publisher:
ISBN: 9780615437484
Category : Oil and gas leases
Languages : en
Pages : 270
Book Description
Negotiating Oil and Leases: A Book For Land OwnersChapter 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-ClauseMineral 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.
Publisher:
ISBN: 9780615437484
Category : Oil and gas leases
Languages : en
Pages : 270
Book Description
Negotiating Oil and Leases: A Book For Land OwnersChapter 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-ClauseMineral 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.
Principles to Keep in Mind in Negotiating Oil and Gas Leases
Author: Robert J. LaBar
Publisher:
ISBN:
Category :
Languages : en
Pages : 3
Book Description
Publisher:
ISBN:
Category :
Languages : en
Pages : 3
Book Description
Hints on Negotiating an Oil and Gas Lease
Author: Judon Fambrough
Publisher:
ISBN:
Category : Oil and gas leases
Languages : en
Pages :
Book Description
Publisher:
ISBN:
Category : Oil and gas leases
Languages : en
Pages :
Book Description
Hints on Negotiating an Oil and Gas Lease
Author: Judon Fambrough
Publisher:
ISBN:
Category : Oil and gas leases
Languages : en
Pages : 21
Book Description
Publisher:
ISBN:
Category : Oil and gas leases
Languages : en
Pages : 21
Book Description
Considerations for the Landowner in Negotiating Oil and Gas Leases on Kansas Farm Property
Author: Philip T. Kyle
Publisher:
ISBN:
Category : Oil and gas leases
Languages : en
Pages : 184
Book Description
Publisher:
ISBN:
Category : Oil and gas leases
Languages : en
Pages : 184
Book Description
Drafting and Negotiating the Modern Oil and Gas Lease (OGA15)
Author:
Publisher:
ISBN: 9781943497188
Category :
Languages : en
Pages :
Book Description
Publisher:
ISBN: 9781943497188
Category :
Languages : en
Pages :
Book Description
Negotiating Oil and Gas Leases on Indiana Farmland
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
Publisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
Negotiations of Oil and Gas Auxiliary Lease Clauses
Author: Max Harleman
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
Oil and gas lease negotiations provide mineral owners the opportunity to negotiate for both compensation and auxiliary clauses that may protect their health and properties. We use optical character recognition to assemble a novel dataset of compensation and specific clauses in nearly 60,000 leases signed in the Marcellus Shale Play of Pennsylvania. We leverage the dataset to produce three main findings. First, contrary to the standard utility maximization model, we find a positive relationship between compensation and clauses. Second, we find that as development of the shale play progressed over time, compensation rose and leases became more likely to contain environmentally protective clauses. Third, we find that compensation and the presence of clauses have a weak relationship with the geologic productivity of nearby wells. Together, our findings indicate that oil and gas firms simultaneously make concessions by raising compensation and approving clauses, but these concessions do not depend on geologic productivity. This suggests that some mineral owners, such as those that are high-income or from more socially organized communities, have the skills or resources to negotiate for more favorable leases all-around and point to similar environmental justice concerns identified in other shale plays.
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
Oil and gas lease negotiations provide mineral owners the opportunity to negotiate for both compensation and auxiliary clauses that may protect their health and properties. We use optical character recognition to assemble a novel dataset of compensation and specific clauses in nearly 60,000 leases signed in the Marcellus Shale Play of Pennsylvania. We leverage the dataset to produce three main findings. First, contrary to the standard utility maximization model, we find a positive relationship between compensation and clauses. Second, we find that as development of the shale play progressed over time, compensation rose and leases became more likely to contain environmentally protective clauses. Third, we find that compensation and the presence of clauses have a weak relationship with the geologic productivity of nearby wells. Together, our findings indicate that oil and gas firms simultaneously make concessions by raising compensation and approving clauses, but these concessions do not depend on geologic productivity. This suggests that some mineral owners, such as those that are high-income or from more socially organized communities, have the skills or resources to negotiate for more favorable leases all-around and point to similar environmental justice concerns identified in other shale plays.
Relinquishing Riches
Author: Thomas R. Covert
Publisher:
ISBN:
Category : Auctions
Languages : en
Pages : 41
Book Description
This paper compares outcomes from informally negotiated oil and gas leases to those awarded via centralized auction. We use data on all contractual characteristics and production outcomes for a class of state-owned mineral rights overlying newly discovered shale formations in Texas, between 2005 and 2016. On roughly three quarters of this land, the Texas Relinquishment Act of 1919 authorizes private individuals who own surface-only rights to negotiate mineral leases on behalf of the public in exchange for half of the proceeds. The remainder are allocated via centralized auctions. Using variation from this natural experiment, we find that almost a century after leasing mechanisms were assigned, auctioned leases generate 67% larger up-front payments than negotiated leases do. The two mechanisms also allocate mineral rights to different oil and gas companies, and leases allocated by auction are 44% more productive. These results are consistent with theoretical intuitions that centralized, formal mechanisms, like auctions, outperform decentralized and informal mechanisms, in both seller revenues and allocative efficiency. Our findings have important implications for the more than $3 trillion of minerals owned by private individuals in the US, the vast majority of which transact in informal and decentralized settings.
Publisher:
ISBN:
Category : Auctions
Languages : en
Pages : 41
Book Description
This paper compares outcomes from informally negotiated oil and gas leases to those awarded via centralized auction. We use data on all contractual characteristics and production outcomes for a class of state-owned mineral rights overlying newly discovered shale formations in Texas, between 2005 and 2016. On roughly three quarters of this land, the Texas Relinquishment Act of 1919 authorizes private individuals who own surface-only rights to negotiate mineral leases on behalf of the public in exchange for half of the proceeds. The remainder are allocated via centralized auctions. Using variation from this natural experiment, we find that almost a century after leasing mechanisms were assigned, auctioned leases generate 67% larger up-front payments than negotiated leases do. The two mechanisms also allocate mineral rights to different oil and gas companies, and leases allocated by auction are 44% more productive. These results are consistent with theoretical intuitions that centralized, formal mechanisms, like auctions, outperform decentralized and informal mechanisms, in both seller revenues and allocative efficiency. Our findings have important implications for the more than $3 trillion of minerals owned by private individuals in the US, the vast majority of which transact in informal and decentralized settings.
Regulation, Negotiation and Administration of Oil and Gas Leases
Author: Executive Enterprises, Inc
Publisher:
ISBN:
Category : Oil and gas leases
Languages : en
Pages :
Book Description
Publisher:
ISBN:
Category : Oil and gas leases
Languages : en
Pages :
Book Description