LND 103 - Oil and Gas Leases
Credits: 3
3 Lecture Hours
Prerequisites: LND 101 LND 102 CIT 155
This course is a study of the principles of basic oil and gas clauses typically contained in an oil and gas lease. Discussion topics and instruction will include the elements of a lease; rights, duties and obligations of the parties to a lease; calculating production payments; apportioning interests after assignment; effects of forming a pool or unit; and terminating a lease.
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