A well not in use because it was a dry hole originally, or because it has ceased to produce.
Abstract of Title
A chronological history of the ownership or significant events affecting a particular piece of property.
In formal usage, a document prepared by an abstract or title company and certified by the preparer to contain
all pertinent information or copies of all documents affecting title to a given piece of property.
Assignment
The legal instrument whereby Oil and Gas Leases or Overriding Royalty interests are assigned or conveyed.
Assignee
The individual to whom Oil and Gas Leases or Overriding Royalty are assigned.
Bonus
Cash consideration paid to a landowner or mineral owner on the execution of an Oil, Gas and Mineral Lease.
Check Stub
Stub attached to a check disclosing well name, month of production, price received and total volumes produced.
Delay Rental
Yearly payments made during primary term to Lessor to delay drilling.
Depository Bank
The bank to which payment of delay rental or other sums may be paid to the credit of lessor or his successors in interest.
Division Order
A schedule of owners and their decimal share in revenues of the well derived from the sale of oil or gas.
Grantor
A person who grants or conveys lands, minerals, etc.
Grantee
The person receiving the grant of lands, minerals, etc.
Gross Working Interest
See definition for Working Interest.
Joint Operating Agreement
An agreement among working interest owners describing how a well is to be operated.
Landman
The individual who negotiates oil and gas leases with mineral owners, cures title defects and negotiates with other companies on agreements concerning the lease.
Landowner
The person who generally owns all or part of the minerals under his lands and is entitled to lease the same.
Lease
See Oil, Gas and Mineral Lease.
Lessee
The person who receives the lease, sometimes called the tenant.
Lessor
The person giving the lease, sometimes called grantor or landlord.
