Production in Paying Quantities: Maintaining Mineral Leases Beyond Their Primary Terms with Production of Oil or Gas
The Energy Law
JANUARY 26, 2016
“Operating expenses”—or “lifting expenses” as they are sometimes referred—are “ordinary, recurring expenses” that are attributable to the expense of production, after the well is drilled and completed. [5] 11] In the current economic climate, slim margins can raise lease maintenance questions concerning production in paying quantities.
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