Notice of Claim of Breach of Oil, Gas, and Mineral Lease by the original Lessor's Successor: Fill out & sign online

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What is a primary term in oil and gas lease?

The primary term is the initial period during which a well may be drilled. If a successful well is drilled within the primary term, the lease will extend for as long as the well remains productive. If a well is not drilled within the primary term, the lease will usually expire.

What is delay rental in oil and gas?

Within the lease, a Delay Rental is a yearly payment made to the lessor by the lessee during the primary term of the lease to compensate for drilling that is going to be delayed.

What is a defensive lease clause?

DEFENSIVE CLAUSES. Defensive clauses include dry hole clauses, operations clauses, pooling and unitization clauses, and cessation of production clauses. These clauses will extend the period of the lease without the necessity of production.

What is a delay rental clause oil and gas?

A clause in an oil gas lease that allows the lessee to pay an amount (delay rental) to the lessor to postpone commencement of drilling operations during the primary term of the lease to keep it in effect.

What is an oil and gas lease ratification?

In terms of the oil and gas industry, ratification of a lease is the term for requesting acceptance of an existing lease agreement, with or without changes, from landowners who have purchased parcels to which the original leaseholder gave permission to drill and produce.

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