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The lessee of an oil or gas lease can assign the entire lease or part of it. In other words, the lessee can sell or transfer part of the estate or the entire estate to which they have the working rights. The assignee is assigned the working interest and lease obligations, including override royalty.
Pooling is the combination of all or portions of multiple oil and gas leases to form a unit for the drilling of a single oil and/or gas well.
Compulsory pooling, also known as forced, statutory or mandatory pooling, forces landownerswho do not wish the mineral resources underneath their land to be extractedto become part of a drilling unit.
The primary purpose of the oil and gas lease is to hold the oil and gas for development by the Lessee yet most oil and gas leases are silent as to the obligations of the Lessee with respect to the conduct of operations after oil and gas is discovered.
Oil and gas exploration companies generally want to hold the leased mineral rights for a period of years until they actually begin drilling. This could be because the price for natural gas is down, or their rigs are operating elsewhere, or for any number of business reasons.
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A shut-in royalty clause is a savings clause within an oil and gas lease that allows a lessee to shut in a well but continue to maintain its lease by paying the lessor certain royalties identified in the lease.
Oil leases are agreements between an oil and gas company known as the lessee and mineral owners known as a lessor, in which the lessor grants the lessee the permission to explore, drill, and produce those minerals for a specified period known as a primary term or as long as the minerals continue to be productive.
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.
Top leasing is a highly competitive practice whereby oil and gas interests that are already subject to existing lease are leased again. In general, this method of mineral leasing is used in areas where existing leases will expire in the near future.
To ratify a lease means that the landowner and oil gas producer, as current lessor and lessee of the land, agree (or re-agree) to the terms of the existing lease.

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