Oil and Gas Leasing Tips

THE LEASING PROCESS: An oil and gas lease is essentially a contract between you, the “lessor”, and another party, the “lessee.” In most states a lease is also considered a conveyance, since you are essentially signing over your right-to-drill for and produce your oil and gas to an oil company in exchange for the agreed upon terms in the lease. They will in effect “own” the minerals, but only for the term of the lease.