District of Columbia Ratification of Oil and Gas Lease by Party Claiming An Outstanding or Adverse Interest
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FAQ
To ?ratify? a lease means that the landowner and oil & gas producer, as current lessor and lessee of the land, agree (or re-agree) to the terms of the existing lease.
: a deed by which a landowner authorizes exploration for and production of oil and gas on his land usually in consideration of a royalty.
An agreement ratifying and confirming a lease executed by a concurrent owner other than the original lessor or conduct by such person which by implication ratifies and confirms the lease.
The BLM issues a competitive lease for a 10-year period. BLM State Offices conduct lease sales quarterly when parcels are eligible and available for lease. Each State Office publishes a Notice of Competitive Lease Sale (Sale Notice), which lists parcels to be offered at the auction, usually 45 days before the auction.
Anti-Communitization Clause (US) A clause in oil & gas leases that generally: States that if the lease covers separate tracts, no pooling or unitization of royalty interest as between the separate tracts is intended or implied. Tries to prevent the ratification of any unit pooled with the lease.
A ratification of an existing Texas oil and gas lease usually executed by a non-participating royalty interest owner or a non-executive mineral interest owner. It can be used for transactions involving business entities or private individuals.
