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Oil & Gas Lease FormsIs There a Standard? Mineral Rights

Oil & Gas Lease FormsIs There a Standard? Mineral Rights

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good morning y'all so today is just a quick video to go over how long a lease normally lasts my name is tracy lens i'm a petroleum engineer and owner of pecan tree oil and gas the country oil and gas helps mineral owners understand what they own and get fair evaluations and help for the minerals when you lease your minerals to a company you sign a term and it's called the primary term that's typically in three to five years they have the right to come in and drill those minerals beyond that there's sometimes an option period like an optional extension that they can pay the same like a set bonus in order to extend without having to do anything sometimes there's a continuous drilling clause or continuous operation clause saying that something has to happen every 90 to 180 days but usually there's just a set three years they have rights to do whatever they want in three years without having a set time limit on that after that primary

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