What Is Oil and Gas Lease?
It is a written agreement between two parties that allow the other (lessee) to have access to the owner’s (lessor) minerals and property. The drawn contract is binding the both with the agreement terms. The lease must contain the date and time which will it be effective. After signing, both parties are bound with the lease agreement.
Leasing your oil and gas mineral is an easy decision. It is if you are looking for an immediate CASH for investing in other business, retirement fund and any emergency fund need. The amount of money you will receive from leasing depends on the current price of the minerals in your place and the amount you have.