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The Granting Clause In The Modern Oil And Gas Lease, Monika Ehrman
The Granting Clause In The Modern Oil And Gas Lease, Monika Ehrman
Monika U. Ehrman
Of all the contracts used in the oil and gas industry, none is as important as the oil and gas lease. It is the foundational instrument in oil and gas and a required prerequisite to development for those who do not own the mineral estate. Its uniqueness arises in that unlike most other oil and gas contracts, it is both a contract and a conveyance of property. Part I of this article begins with an overview of the mineral estate, the predecessor to an oil and gas lease. Part II examines theories of oil and gas rights ownership and oil …