BSEN 395 Lecture 18: BSEN Lecture 18

• School: University of Calgary
• Department: Business and Environment
• Course: BSEN 395
• Professor: Rob Malach

Document Summary

How to explore for & produce oil and gas. ?- seismic exploration-sonar mapping-sound: a) surface lease: permission to enter land and permission, b) seismic results. Need a(cid:374) (cid:862)operati(cid:374)g agree(cid:373)e(cid:374)t(cid:863)- sets out how costs and revenue is shared: back to aer- pipelines, storage batteries. How to get someone else to drill your wells, or how to get someone else mines and minerals lease: 1. Farm-in-agreement driller can negotiate a right to come in to so(cid:373)eo(cid:374)e else"s lease- royalty share: 2. Farm out- oil companies offering royalty share in exchange for someone drilling their well.