Natural Gas Lease
/ˈnætʃərəl ɡæs liːs/
Definitions
- (n.) A lease granting a party the right to explore, extract, and produce natural gas from a specified land area for a set term and under agreed conditions.
The company signed a natural gas lease to begin drilling on the property.
Forms
- natural gas lease
- natural gas leases
Related terms
See also
Commentary
Natural gas leases often include provisions unique to gas extraction, such as shut-in royalties and pooling clauses, distinguishing them from general mineral leases.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.