Oil and gas lease

{
  "id": "MLC-T-OAG-002592",
  "term": "Oil and gas lease",
  "field": "Oil and gas",
  "definition": "A legal agreement between a mineral owner (lessor) and an oil company (lessee) that grants the company the right to explore for, develop, and produce oil and gas from a specified tract of land. In exchange, the lessor receives bonus payments, delay rentals, and royalties. The lease typically has a primary term and a secondary term.",
  "subject": "Oil and Gas Business",
  "url": "https://mlchart.com/terminology/oil-and-gas/oil-and-gas-lease/"
}