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The U.S. oil industry revolves around the oil and gas lease. It is the document giving an oil company the rights necessary to use their money and resources to drill, produce and earn profits for the company as well as for the mineral rights owner. Acquiring the lease is only the first step. Keeping the lease alive by adhering to its terms is the bigger challenge.
The lease analyst is the oil industry professional most often responsible for managing data reflecting the terms of a lease. Principles of Oil and Gas Lease Analysis: Common Clauses provides guidance for the lease analyst to learn how to comprehend, analyze and manage effectively each of the common clauses in an oil and gas lease, including:
- Discussing the basis and reasoning for the clause
- Stating the full clause, with key passages highlighted
- Simplifying the provision using the highlighted passages
- Offering suggested methods of analysis
- Discussing what potential management policies should be considered by the lease analyst
- Offering related database application issues for each clause
- Providing insight into typical, internal workflow procedures the analyst might encounter
The clauses in this book primarily are those found routinely in every oil and gas lease signed today. That said, there are a few of the clauses that rarely, if ever, are found in recorded leases. These are the highly sensitive clauses that the oil company, or the landowner, doesn’t want the public to know is included in the oil and gas lease. A Memorandum of Oil and Gas Lease is recorded in the courthouse instead, to keep these sensitive clauses secret.
Principles of Oil and Gas Lease Analysis: Common Clauses is an excellent training manual, to train beginner lease analysts how to read the “legalese” in oil and gas leases. It can help mineral owners and royalty owners to better understand the clauses in their own leases. Owners also can learn how oil companies maintain the owner’s lease in order to adhere to its requirements.
277 pages.