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Oil and Gas Leasing
In 2007, the Dept. of the Interior (Interior) collected $10.5 billion in revenues from companies that hold fed. oil and gas leases. Acquiring a fed. lease gives the lessee the rights to explore for and develop the oil and gas resources under the lease. Development entails many tasks, incl. drilling wells and building pipelines that may lead to oil and gas production. This report: (1) describes Interior's efforts to encourage development of fed. oil and gas leases and compares them to states' and private landowners' efforts; (2) examines trends in leasing and factors that may affect development; and (3) describes development on a sample of leases. The auditor reviewed data on 55,000 leases and spoke to officials in 8 states with leasing experience. Illus.
Negotiating Oil and Gas Leases
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-Severa...
Offshore Lands
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