05.07.2009

Is the right to the mineral interest granted by an oil and gas lease

The legal contract that specifies the terms and conditions of the business relationship between an oil company and the landowner or mineral rights holder on a particular tract.

Someone who goes out and aggressively acquires oil and gas leases from the landowner, and then turns around and sells or trades them to an oil company planning to drill a well in the area.

Natural gas used in well, field, and lease operations, such as gas used in drilling operations, heaters, dehydrators, and field compressors