Please enable JavaScript.
Coggle requires JavaScript to display documents.
Oil & Gas (Mineral Interest v. Royalty Interest (Mineral Interest (an…
Oil & Gas
-
-
-
-
-
O&G Lease
-
-
Implied Covenants
Objective Std.: Reasonably prudent operator (judged in the light of the facts, circumstances, & surrounding conditions that existed in the oil field during that time
Divided Ownership
Tenants in Common
-
Options for nonconsenting co-tenant: enter into his own lease; ratify existing lease; do nothing and be treated as a carried working interest holder (but has to pay production costs)
-
-
Successive Ownership
-
-
Delay Rentals
life tenant, then to remainderman when life tenant dies
-
-
-
-