Clauses of a lease that a mineral owner may find are examined. The parts are: 1. pooling clause, 2. offset clause, 3. damages, 4. right to assign, 5. severability of interest, 6. Pugh clause, 7. force majeure, 8. shut in, 9. legal description, and 10. delay rental. Each lease contains a free- form area where other items can be included. Many of these may be non-cash items that are relatively insignificant to the lessee but are important to the lessor.
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"WHAT'S IN A LEASE? YOU'VE JUST BEEN HANDED ONE*"Please download to view full document