eCourse
The Essentials of an Oil and Gas Lease
Contains material from Apr 2021
The Essentials of an Oil and Gas Lease
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Session 1: The Oil and Gas Lease, Part I: Classification, Scope of Grant and Duration - An in-depth focus on how an oil and gas lease is classified in law and on the key clauses of the lease.
Session 2: The Oil and Gas Lease, Part II: The Royalty Clause in an Oil and Gas Lease - In Texas, the calculation of the royalty obligation created under an oil and gas lease is determined by looking at the specific language contained in the royalty clause. Royalty terms in the lease such as "market value at the well" or "amount realized" establish how the royalty payor must measure and calculate royalty, and what post-production costs can be allocated to the lessor interest. This presentation reviews some of the principal phrases used to describe such obligations and how the Texas courts have interpreted them, and examines how that same language has been interpreted differently in other jurisdictions. It analyzes the impact of division and transfer orders and royalty payment statutes on royalty obligations contained in the lease.
Session 3: The Oil and Gas Lease, Part III: Implied Covenants - Examine the law of implied covenants, including the duties imposed, elements necessary to establish a claim, and remedies and defenses available.
Session 4: The Oil and Gas Lease, Part IV: Other Clauses - Review other clauses in an oil and gas lease, including surface use clauses and riders, retained acreage and proportionate reduction clauses, and savings clauses such as continuous operations, dry hole, force majeure, and shut-in gas royalty clauses.
Session 2: The Oil and Gas Lease, Part II: The Royalty Clause in an Oil and Gas Lease - In Texas, the calculation of the royalty obligation created under an oil and gas lease is determined by looking at the specific language contained in the royalty clause. Royalty terms in the lease such as "market value at the well" or "amount realized" establish how the royalty payor must measure and calculate royalty, and what post-production costs can be allocated to the lessor interest. This presentation reviews some of the principal phrases used to describe such obligations and how the Texas courts have interpreted them, and examines how that same language has been interpreted differently in other jurisdictions. It analyzes the impact of division and transfer orders and royalty payment statutes on royalty obligations contained in the lease.
Session 3: The Oil and Gas Lease, Part III: Implied Covenants - Examine the law of implied covenants, including the duties imposed, elements necessary to establish a claim, and remedies and defenses available.
Session 4: The Oil and Gas Lease, Part IV: Other Clauses - Review other clauses in an oil and gas lease, including surface use clauses and riders, retained acreage and proportionate reduction clauses, and savings clauses such as continuous operations, dry hole, force majeure, and shut-in gas royalty clauses.
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1.
The Oil and Gas Lease, Part I: Classification, Scope of Grant and Duration (Apr 2021)
Monika U. Ehrman
0.75
0.25
0.00
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Session 1
—46 mins
The Oil and Gas Lease, Part I: Classification, Scope of Grant and Duration (Apr 2021)
An in-depth focus on how an oil and gas lease is classified in law and on the key clauses of the lease.
Originally presented: Mar 2021 Fundamentals of Oil, Gas and Mineral Law
Monika U. Ehrman,
UNT Dallas College of Law - Dallas, TX
Show session details
2.
The Oil and Gas Lease, Part II: The Royalty Clause in an Oil and Gas Lease (Apr 2021)
Tara Righetti
0.75
0.25
0.00
Preview Materials
Download session materials for offline use
Session 2
—45 mins
The Oil and Gas Lease, Part II: The Royalty Clause in an Oil and Gas Lease (Apr 2021)
In Texas, the calculation of the royalty obligation created under an oil and gas lease is determined by looking at the specific language contained in the royalty clause. Royalty terms in the lease such as "market value at the well" or "amount realized" establish how the royalty payor must measure and calculate royalty, and what post-production costs can be allocated to the lessor interest. This presentation reviews some of the principal phrases used to describe such obligations and how the Texas courts have interpreted them, and examines how that same language has been interpreted differently in other jurisdictions. It analyzes the impact of division and transfer orders and royalty payment statutes on royalty obligations contained in the lease.
Originally presented: Mar 2021 Fundamentals of Oil, Gas and Mineral Law
Tara Righetti,
University of Wyoming College of Law - Laramie, WY
Show session details
3.
The Oil and Gas Lease, Part III: Implied Covenants (Apr 2021)
Keith B. Hall
0.75
0.00
0.00
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Download session materials for offline use
Session 3
—46 mins
The Oil and Gas Lease, Part III: Implied Covenants (Apr 2021)
Examine the law of implied covenants, including the duties imposed, elements necessary to establish a claim, and remedies and defenses available.
Originally presented: Mar 2021 Fundamentals of Oil, Gas and Mineral Law
Keith B. Hall,
Louisiana State University Paul M. Hebert Law Center - Baton Rouge, LA
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4.
The Oil and Gas Lease, Part IV: Other Clauses (Apr 2021)
Christopher S. Kulander
0.50
0.00
0.00
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Download session materials for offline use
Session 4
—30 mins
The Oil and Gas Lease, Part IV: Other Clauses (Apr 2021)
Review other clauses in an oil and gas lease, including surface use clauses and riders, retained acreage and proportionate reduction clauses, and savings clauses such as continuous operations, dry hole, force majeure, and shut-in gas royalty clauses.
Originally presented: Mar 2021 Fundamentals of Oil, Gas and Mineral Law
Christopher S. Kulander,
South Texas College of Law Houston - Houston, TX