Texas Oil and Gas Attorneys at Bailey and Galyen
From Landowner to Lessee, from Exploring to Leasing, and from Buying to Selling, Bailey and Galyen has your every Oil and Gas need covered!
For the Landowner
We press for the best royalty the Oil and Gas Company can offer and never leave you envious of your neighbors! We will protect your property, make it the most valuable and productive it can be, and ensure your property is always the most available and lucrative lease on the market!
When you take steps to lease or sell your oil, gas, or mineral rights, you can easily become confused by many of the unfamiliar terms commonly used in the process. This page is designed to provide clear explanations of the different terms used so that you have a solid understanding of your rights and responsibilities.
At the law offices of Bailey & Galyen, we will carefully listen to all your questions and concerns, providing a full assessment of the lease or agreement being offered, as well as your options going forward.
Oil and Gas Terms You Need to Know and Understand
Payment to Landowner for signing an Oil and Gas Lease. This amount is very negotiable and subject to constant change.
Statement executed by all interest holders stating how proceeds of production are to be distributed.
Drilling operation whereby a certain depth is reached vertically followed by a mechanical horizontal about-face designed to reach other lucrative production intervals
Hydraulic Fracturing (also Fraccing or Fracking)
A well-stimulation technique that includes the injection of various additives, including water and sand, into the wellbore to create cracks into prospective rock formations, making oil or gas more available for recovery.
Representative of the oil company who often engages in the negotiation of leases and manages the leased property in general.
Organization or individual, through the execution of an Oil and Gas Lease, that explores for and produces oil and gas from the lands of the lessor or lessor(s) for a specified term.
Mineral owner who, through the execution of an Oil and Gas Lease, grants an individual Organization or individual the right to explore for and produce oil and gas from his or her lands for a specified term.
Oil and Gas Lease
Agreement granting the oil company or individual the right to explore, develop, produce any oil or gas found on your lands. The Oil and Gas Lease can be for as little as 6 months to as many as 10 years. If there is production on your lands as a result of the Oil and Gas Lease, the agreement term can be indefinite.
A lease clause that severs portions of lands that are not pooled into a unit from those which are. After this clause is triggered, lands not included in a unit and can be negotiated for another Oil and Gas Lease.
A right to a specific share of gross production resulting from drilling on your Oil and Gas Lease or on those Oil and Gas Lease or Leases that your Oil and Gas Lease can be grouped with. This is the most essential and important clause of the Oil and Gas Lease. Your royalty or fraction of production can vary as much as from 1/8 to ¼ and beyond. 1/8 used to be a foregone conclusion but now the amount of the royalty serves as the focal point of any lease negotiation.
Area of consolidation and combination of leased lands along with adjacent lands.
For the Operator
Bailey & Galyen helps you effectively explore and operate with only the most qualified and proven professionals in the game. Its a new era in the Oil and Gas Industry and you cannot afford to settle on the product you need and the quality you deserve.
Contact the Oil and Gas Attorneys at Bailey & Galyen
AMONG THE MANY SERVICES OFFERED BY BAILEY AND GALYEN
- OIL & GAS LEASE REVIEWS & NEGOTIATIONS
- COMPREHENSIVE MINERAL ESTATE MANAGEMENT
- ROYALTY RECOVERY
- TITLE SERVICES COVERING ALL PHASES OF MINERAL EXPLORATION AND DEVELOPMENT
- LAND OWNERS RIGHTS
- MINERAL RIGHTS PROTECTION
- PROPERTY LEASING
- OIL & GAS LITIGATION
- MINERAL INTEREST LOCATION AND DEFINITION
We are available 24 hours a day, 7 days a week. Send us an e-mail or call us at 844-402-3900 to arrange a meeting. We offer quality legal services and representation to clients throughout Texas, including Arlington, Bedford, Dallas, Fort Worth, Grand Prairie, Plano, Weatherford, Mesquite, Houston, Clear Lake, TX.