MLchartDataset catalogue

Delay rental

Term · Oil and gas · MLC-T-OAG-000987

An annual payment made by a lessee to a lessor to maintain an oil and gas lease in force during its primary term, in the absence of drilling operations or production. This payment compensates the lessor for the delay in developing the property. If the lessee fails to pay the delay rental on time, the lease typically terminates automatically, unless otherwise specified.

Table 1. Record
IdentifierMLC-T-OAG-000987
FieldOil and gas
SubjectOil and Gas Business
Record as JSON 
{
  "id": "MLC-T-OAG-000987",
  "term": "Delay rental",
  "field": "Oil and gas",
  "definition": "An annual payment made by a lessee to a lessor to maintain an oil and gas lease in force during its primary term, in the absence of drilling operations or production. This payment compensates the lessor for the delay in developing the property. If the lessee fails to pay the delay rental on time, the lease typically terminates automatically, unless otherwise specified.",
  "subject": "Oil and Gas Business",
  "url": "https://mlchart.com/terminology/oil-and-gas/delay-rental/"
}

Record 1,055 of 4,468 in Oil and gas terminology (MLC-0103). Request the full dataset.