The characterization of oil and gas rights that a severed mineral interest owner has merely a right to search, develop and produce oil and gas from the land, but not a present right to possess the oil and gas in place. Because there is no right to present possession, the interest of a severed mineral interest owner in a non-ownership theory state i [..]

A support agreement in which the contributing party agrees to make a cash contribution to the drilling party in exchange for geological or drilling information, if a well is drilled to an agreed depth.

lease clause that permits the lessee to reduce payments under the lease proportionately if the lessor has less than 100.00% of the mineral interests described on an oil and gas lease.

Bcf: Billion Cubic Feet BOPD: Barrels of Oil per Day B/D: Barrels per Day BOPM: Barrels of Oil per Month BTU: British Thermal Unit BWPD: Barrels of Water per Day DO: Division Order DR: Delay Rental GWI: Gross Working Interest JOA: Joint Operating Agreement LPG: Liquified Petroleum Gases MCFPD: Thousands of Cubic Feet of Gas per Day Mcf: Thousand Cu [..]

One barrel of crude oil equals: 42 gallons 5,800,000 BTU of energy 5,614 cubic feet of natural gas 0.22 ton of bituminous coal

A well not in use because it was a dry hole originally, or because it has ceased to produce.

A private company in the business of preparing abstracts of title and performing related services.

A chronological history of the ownership or significant events affecting a particular piece of property. In formal usage, a document prepared by an abstract or title company and certified by the preparer to contain all pertinent information or copies of all documents affecting title to a given piece of property.

The theory that minerals such as oil and gas are fully owned in place before they are extracted and reduced to possession. Title to oil and gas may be lost by legitimate drainage and by the rule of capture.

Acreage owned in the vicinity of a test being drilled by another party and contributed to the driller of the well in return for information obtained by drilling.