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Simple English definitions for legal terms

drilling contract

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A quick definition of drilling contract:

A drilling contract is an agreement between a drilling contractor and the owner or lessor of mineral rights. The contract outlines the rights and responsibilities of each party. There are different types of drilling contracts, including daywork, footage, and turnkey contracts. In a daywork contract, the lease operator has broad control over the drilling contractor and is liable for damages caused by the drilling. In a footage contract, the drilling contractor is paid per foot drilled and assumes most liabilities. In a turnkey contract, the drilling contractor performs specified functions for an agreed price, and the lease operator assumes little or no liability for damages.

A more thorough explanation:

A drilling contract is an agreement between a drilling contractor and the owner or lessor of mineral rights. The contract outlines the rights and responsibilities of both parties. The more control the owner retains over the contractor, the more liable they are for any damages caused by the drilling.

A daywork drilling contract is when the lease operator hires a drilling rig and workers and pays based on the time spent drilling. The lease operator has broad control over the contractor, but also assumes broad liability for any damages caused by the drilling.

A footage drilling contract is when the drilling contractor is paid a set amount per foot drilled and has control over how to do the work. The contractor assumes most liabilities and risks of unexpected delays.

A turnkey drilling contract is when the drilling contractor promises to perform specific functions for an agreed price. The lease operator has little to no control over the contractor and assumes little to no liability for damages caused by the drilling.

For example, if a drilling company enters into a daywork drilling contract with an oil company, the oil company has control over the drilling operations and assumes liability for any damages caused by the drilling. On the other hand, if the drilling company enters into a turnkey drilling contract, they assume most of the risks and liabilities associated with the drilling operations.

drift-stuff | drilling-delay rental clause

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Dkk
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I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
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i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
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Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
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president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
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Bill Clinton, first and last black president
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it doesn't hurt its just tingly
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try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
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@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
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I will take In N Out everyday over it when I can though.
texaslawhopefully
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In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
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Indeed, indeed.
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