Account
Get our app
Account Sign up Sign in

Make your Free
Oil Lease

You have a hunch that there's oil on private property, but you need an Oil Lease before you can start exploring. Perhaps your great aunt has left you some property or mineral rights in an area where... Read More

Make document
Sample Oil Lease Template
How It Works About Document Related Documents

How It Works

Create your document

Create your document

Answer a few simple questions to make your document in minutes

Save, print & share

Save, print & share

Save progress and finish on any device; download & print anytime

Sign & make it legal

Sign & make it legal

Securely sign online and invite others to sign

Making an Oil Lease

  • What is an Oil Lease?

    You have a hunch that there's oil on private property, but you need an Oil Lease before you can start exploring. Perhaps your great aunt has left you some property or mineral rights in an area where oil has been found. When you get a call from an eager prospector, you'll want to sign an Oil Lease that ensures you get your share if the site yields a gusher.


    Use the Oil Lease document if:

    • You would like to lease your land for oil and/or gas exploration and production.
    • You are engaged in the business of oil and/or gas exploration and production and you would like to lease property for exploration.

    An Oil Lease grants the rights to explore and extract oil from a private property. It may also cover rights to extract gas and related minerals. You'll need to have a good understanding of the rules, and your rights, before you sign. After all, an Oil Lease might come to nothing, but the stakes are high if the site proves to be rich. The lease will lay out a structure for paying royalties from any oil that is discovered. Generally, oil royalties are paid as a percentage of the oil that is produced. An Oil lease may include a requirement that the prospector begin exploration or drilling within a specific time period. You can also decide up front whether the owner or the lessor can assign their rights to another party. You should have details of the arrangement in writing well before mining equipment is in the picture. An Oil Lease can help you, whether you're a soon to be tycoon or not.

    Other names for this document: Oil and Gas Lease, Oil Lease Form, Oil Lease Agreement

Related Documents

Ask a lawyer

Our attorneys are here for you.
Characters remaining: 600
on call attorney mario
on call attorney kendall
on call attorney marc
Rocket Lawyer On Call® Attorneys

WHY ROCKET LAWYER?

Easy legal documents at your fingertips

Answer a few simple questions to make your document in minutes

Easily customizable
Make unlimited revisions and copies. Sign digitally. Share and print anytime.
Legal and reliable
Our documents are vetted by lawyers and legal staff, so you can use them with confidence.
Added protection with Document Defense®
If there's a dispute, an On Call attorney can respond on your behalf. Included in your Premium plan.
Try Rocket Lawyer free for 7 days
Make your Premium document today and get back to doing what you love.

Looking for something else?