OI glossary terms

Browse full definitions for every OI term in the Amicus glossary.

Oil and Gas Law

/ˈɔɪl ænd ɡæs lɔː/

Definitions

  1. (n.) The body of law governing the exploration, extraction, production, and distribution of oil and natural gas resources.
    Oil and gas law regulates leases and mineral rights to ensure lawful resource development.
  2. (n.) Legal principles and statutes addressing issues such as mineral rights ownership, environmental regulation, and contractual agreements in the oil and gas industry.
    Disputes over royalty payments often fall under oil and gas law.

Forms

  • oil and gas law

Related terms

See also

Commentary

Oil and gas law is a specialized field intersecting property, contract, and environmental law; drafters should precisely define terms like 'ownership' and 'rights' to avoid costly disputes.

Oil and Gas Lease

/ˈɔɪl ænd ɡæs liːs/

Definitions

  1. (n.) A contract granting the lessee rights to explore, extract, and produce oil and gas from a specified tract of land.
    The company signed an oil and gas lease to begin drilling on the property.
  2. (n.) A hybrid lease combining a mineral lease with a lease of the surface rights to conduct oil and gas operations.
    The landowner executed an oil and gas lease giving surface access rights for drilling.

Forms

  • oil and gas lease
  • oil and gas leases

Related terms

See also

Commentary

Draft oil and gas leases carefully to define the scope of rights, duration, royalty rates, and surface use to avoid future disputes.

Glossary – OI Terms