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Simple English definitions for legal terms

footage drilling contract

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A quick definition of footage drilling contract:

A footage drilling contract is an agreement between a drilling contractor and the owner of mineral rights. The contract outlines the responsibilities of each party, with the owner retaining more control over the contractor resulting in more liability for damages caused by drilling. A daywork drilling contract is similar, but the lease operator has more control over the contractor and therefore more liability. A turnkey drilling contract is when the drilling contractor promises to perform specific functions for an agreed price, with the lease operator assuming little to no liability for damages caused by drilling.

A more thorough explanation:

A footage 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 drilling contractor, who owns drilling rigs and equipment, is paid a set amount per foot drilled to reach a specified formation or depth. The contractor has broad control over how to do the work, and the risk of unexpected delays and most liabilities is on the contractor rather than the lease operator.

  • Footage Drilling Contract: A drilling contractor is hired to drill a well to a depth of 10,000 feet. The contract specifies that the contractor will be paid $50 per foot drilled. The contractor has control over how to do the work and assumes most of the risk for any delays or damages caused by the drilling.
  • Daywork Drilling Contract: A lease operator hires a drilling rig and oilfield workers and pays an amount based on the time spent in drilling operations. The lease operator retains the right to direct drilling operations and assumes broad liability for any damages caused by the drilling.
  • Turnkey Drilling Contract: A drilling contractor promises to perform specified functions for an agreed price. The lease operator has little or no discretion to control the drilling contractor and assumes little or no liability for damages caused by the drilling.

These examples illustrate the different types of drilling contracts and the varying levels of control and liability for the parties involved. The footage drilling contract places most of the risk on the contractor, while the daywork drilling contract places more liability on the lease operator. The turnkey drilling contract minimizes the lease operator's liability by giving the drilling contractor more control over the work.

foot acre | foot-frontage rule

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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
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
soapy
8:48
UMN under review! As predicted, decisions are gonna come out early December
Minus those random R decisions from UMN yesterday though right? I wonder what happened there. I don’t think I’ve seen a school start the season out with anything but As on here
almost all of my apps have been UR for 6 weeks at this point I feel exhausted waiting for them to finish
Irvine is being snobby and wont start any review until end of Nov.
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