Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What is an oil and gas lease?

April 26, 2017Gas lease Oil

0

Posted

What is an oil and gas lease?

1 Answer

0

Posted

DCNRs Oil and Gas Lease for State Forest and Park Lands is a legally binding contract that gives the lessee the opportunity to explore, drill, produce, and sell natural gas encountered within the lands specified in the executed lease agreement. The lease also gives the lessee the rights to any oil encountered, although DCNR estimates the chance of discovering oil is about one or two percent in the Trenton-Black River play.