T & C

Oil and gas exploration operations have two footprints – one above ground and one below ground.  Above ground, operations include such things as the well pad, impoundment pit, the wellhead, etc.  A well pad can cover several acres.

Many oil exploration companies buy and sell leases as part of their business model:

LESSEE shall have the right to assign and transfer this Lease in whole or in part at anytime, and LESSOR waives notice of any assignment or transfer of this Lease.