PETE 1010 Chapter : Pete 1010 2
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The largest three u. s. based international oil companies are exxonmobil, chevron, and. _____________ is the combining of leased tracts on a fieldwide or reservoir-wide scale so that many tracts amy be treated as one for operations such as enhanced recovery projects. unitization, A _______________ fixes the duration of the lessee"s interest. In louisiana, unlike texas, an owner of a petroleum lease has __________ years to exercise mineral rights to avoid their merger with the surface estate. __________ is the practice of combining small tracts of land into a pool large enough to satisfy state spacing regulations for drilling. If a royalty owner receives 20 percent, then the 80 percent is called _________. working interest, In a mineral lease, the __________ conveys the described mineral interest from the lessor to the lessee for consideration. In a petroleum lease, the mineral estate or fee owner is called the __________.
