The oil and gas lease is, without question, the foundation of every oil and gas exploration and production company. With this in mind, the role of the oil and gas personnel who oversee and manage these simple pieces of paper becomes paramount for the success of the oil and gas company. These people have been hired not as data input personnel but rather as the guardians of the company assets. Their responsibility goes far beyond shuffling paper and capturing information into a computer system. Their job is as an analyst, overseer, maintainer, and guardian of these assets. For the company to realize its maximum success those who oversee the leases must also succeed. A part of that success will come as a result of mastering the oil and gas lease.

Major Topics Covered

1. The Essence of a Contract
2. Rules for Contract Interpretation
3. The Four Corner’s Rule
4. The Parol Evidence Rule
5. The Delay Rental Clause
6. Defective Acknowledgments
7. The Mother Hubbard Clause
8. The Pugh Clause
9. The Shut-in Clause
10. Surface Rights