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Simple English definitions for legal terms

dry-hole clause

Read a random definition: nonapportionment rule

A quick definition of dry-hole clause:

A dry-hole clause is a rule in an oil-and-gas lease that explains what a lessee must do to keep the lease after drilling a well that doesn't produce oil or gas. The clause usually says that the lessee can keep the lease by paying rent for the rest of the lease term.

A more thorough explanation:

A dry-hole clause is a provision in an oil-and-gas lease that specifies what a lessee must do to maintain the lease for the remainder of the primary term after drilling an unproductive well. The clause is intended to make clear that the lessee may maintain the lease by paying delay rentals for the remainder of the primary term.

For example, if a company leases land for oil and gas exploration and drills a well that does not produce any oil or gas, the dry-hole clause would require the company to continue paying rent to maintain the lease for the remaining term.

The dry-hole clause is important because it ensures that the lessor continues to receive compensation for the use of their land, even if the lessee is not able to extract any oil or gas.

dry-hole agreement | dual citizenship

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[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
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