LAW 5207 - Advanced Mineral Law

Credit(s): 3
Prerequisite(s): Mineral Rights (LAW 5205 )
Although an oil and gas lease typically will have only one original lessee, it is common for multiple companies to be involved in the operations, if any, conducted under that lease. The original lessee often assigns its interest, in whole or part, and the entity or entities holding the leasehold interest often hire other companies to perform all or portions of the exploration, drilling, and production processes. This gives rise to various types of contracts. This course will examine legal issues and drafting considerations relating to bottom hole and dry hole agreements, farmout agreements, joint operating agreements, gas balancing agreements, drilling contracts, master service agreements, and gas purchase agreements. The course also covers issues relating to assignments of leases (including contractual restrictions on assignments), anti-indemnity statutes, and liens on oil wells.