Leases

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Keywords
Theme: leases, blocks, Earth Science Associates, GOMsmart, GOM3, GOM-Cubed
Place: Gulf of Mexico, GOM, USA
Stratum: Offshore
Temporal: Current

Description
Abstract
A lease is the contract between a mineral owner, otherwise known as the lessor, and a company or working interest owner, otherwise known as the lessee, in which the lessor grants the lessee the right to explore, drill, and produce oil and gas for a specified primary term and as long thereafter as oil, gas, or other minerals are being produced in paying quantities. This lease gives the lessee a working interest. The oil and gas lease is granted in exchange for royalty payments to the lessor. Generally, one company is designated as the operator to handle communication with the government for permits, royalties and regulations. In the Gulf, leases begin within the bounds of blocks dividing protraction areas. Current leases are mapped in GOMsmart. Aliquots and unit boundaries are also mapped. Leases with assigments of operating rights are highlighted.
Purpose
Analysis for oil and gas exploration and production in the Gulf of Mexico.
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