Dry-hole clause

Dry-hole clause

A dry-hole clause is a provision in an oil or Natural gas lease specifying what a lessee must do to maintain the lease for the remainder of a primary term after drilling a "dry hole." Usual the lessee will just have to pay delay rentals.

Superior Oil Co. v. Stanolind Oil & Gas Co., 150 Tex. 317, 240 S.W.2d 281 (1951).

Murphy v. Garfield Oil Co., 98 Okla. 273, 225 P. 676 (1923).



Wikimedia Foundation. 2010.

Игры ⚽ Нужно решить контрольную?

Look at other dictionaries:

  • dry hole clause — A provision in an oil and gas lease specifying what a lessee must do to maintain the lease for the remainder of the primary term after drilling an unproductive well. A dry hole clause is intended to make clear that the lease may be maintained by… …   Black's law dictionary

  • dry hole clause — A provision in an oil and gas lease specifying what a lessee must do to maintain the lease for the remainder of the primary term after drilling an unproductive well. A dry hole clause is intended to make clear that the lease may be maintained by… …   Black's law dictionary

  • United States — a republic in the N Western Hemisphere comprising 48 conterminous states, the District of Columbia, and Alaska in North America, and Hawaii in the N Pacific. 267,954,767; conterminous United States, 3,022,387 sq. mi. (7,827,982 sq. km); with… …   Universalium

  • environment — environmental, adj. environmentally, adv. /en vuy reuhn meuhnt, vuy euhrn /, n. 1. the aggregate of surrounding things, conditions, or influences; surroundings; milieu. 2. Ecol. the air, water, minerals, organisms, and all other external factors… …   Universalium

  • Хронология альтернативного рока — Содержание 1 1970 е 1.1 1979 2 1980 е 2.1 1980 2.2 1981 2.3 …   Википедия

  • Timeline of alternative rock — This is a timeline of alternative rock, from its beginnings in the 1960s to the present. NOTOC 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005… …   Wikipedia

  • North Carolina-class battleship — North Carolina steaming on 3 June 1946. By this time, many of the light anti aircraft weapons (Bofors 40 mm and Oerlikon 20 mm) mounted during the war had been removed, while more modern radars had been mounted on her forefunnel and mainmast …   Wikipedia

  • Ionians (The) — The Ionians Malcolm Schofield THALES AND OTHERS The Greeks agreed that philosophy had begun with Thales. However they did not know much about his views.1 What survives is mostly a potent legend. Herodotus tells stories of his practical ingenuity …   History of philosophy

  • Everglades National Park — Parc national des Everglades Parc national des Everglades Catégorie II de la CMAP (Parc national) …   Wikipédia en Français

  • Parc national des Everglades — Catégorie UICN II (parc national) Identifiant …   Wikipédia en Français

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”