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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.
Ratification: approval of agreement by the state After approval has been granted under a state's own internal procedures, it will notify the other parties that they consent to be bound by the treaty. This is called ratification. The treaty is now officially binding on the state.