MLchartDataset catalogue

Term lease

Term · Oil and gas · MLC-T-OAG-003795

A mineral lease granted for a fixed period of time, after which it expires unless production in paying quantities is established. This primary term allows the lessee to explore and drill for hydrocarbons. If production is achieved, the lease continues into a secondary term, often for as long as oil or gas is produced.

Table 1. Record
IdentifierMLC-T-OAG-003795
FieldOil and gas
SubjectOil and Gas Business
Record as JSON 
{
  "id": "MLC-T-OAG-003795",
  "term": "Term lease",
  "field": "Oil and gas",
  "definition": "A mineral lease granted for a fixed period of time, after which it expires unless production in paying quantities is established. This primary term allows the lessee to explore and drill for hydrocarbons. If production is achieved, the lease continues into a secondary term, often for as long as oil or gas is produced.",
  "subject": "Oil and Gas Business",
  "url": "https://mlchart.com/terminology/oil-and-gas/term-lease/"
}

Record 4,024 of 4,469 in Oil and gas terminology (MLC-0103). Request the full dataset.