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Simple English definitions for legal terms

further-exploration covenant

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A quick definition of further-exploration covenant:

A further-exploration covenant is a promise made in an oil-and-gas lease that the person leasing the property will continue to search for more oil and gas after they have already found some. This promise is usually implied, meaning it is not specifically written in the lease. Some places say that this promise only exists if the lease also includes a promise to develop the property reasonably.

A more thorough explanation:

A further-exploration covenant is a promise made in an oil-and-gas lease that the lessee will continue to explore other parts of the leased property and other formations under it, once production has been obtained.

For example, if a company leases a piece of land for oil and gas exploration and they strike oil, the further-exploration covenant requires them to continue exploring the rest of the property for potential oil and gas reserves.

It's important to note that some jurisdictions consider the further-exploration covenant to be dependent on the covenant for reasonable development. This means that the lessee must not only explore the property further, but also do so in a reasonable and prudent manner.

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17:54
berk…..
shaquilleoatmeal
17:58
what about berk
18:01
i need wave
shaquilleoatmeal
18:04
call them and demand one
@shaquilleoatmeal: did you get double app complete on sub status or just one
letsseehowitgoesnow
18:11
shaq i got that for BU
shaquilleoatmeal
18:13
@Eminatorcookieeater: just one
shaquilleoatmeal
18:14
@letsseehowitgoesnow: lfg!
shaquilleoatmeal
18:14
@Eminatorcookieeater: did you get one or double??
Just one sadly
letsseehowitgoesnow
18:15
I doubt it means anything. I applied like 2 weeks ago lol
letsseehowitgoesnow
18:16
Actually nvm. I don’t have that lol
shaquilleoatmeal
18:17
@Eminatorcookieeater: I think it's still a good sign, seems like we're one stage away from a decision rolling out which is a good thing, whether an A, R, or WL lol
shaquilleoatmeal
18:17
all obviously based on that reddit post which might not be accurate
Exactly at least something is happening haha
shaquilleoatmeal
18:19
lfg just got a vandy interview
Dkk
18:26
Nice, I should get that app in.
Dkk
18:26
Good motivation.
shaquilleoatmeal
18:28
@Dkk: get that app in man, c'mon
[] baddestbunny
18:29
1.5 hours bitches
[] baddestbunny
18:32
but who’s counting?
it’s happennninnnnggg
Dkk
18:37
I will do better! @Shaq
shaquilleoatmeal
18:41
atta boy dk
[] baddestbunny
18:42
I think our opponent’s dad is mad at me
good feed off his malding
JumpySubsequentDolphin
18:52
gulc should send invites so i can take my mind off the election
Dkk
19:11
Man, I just made two steaks, opened a bottle of Chianti Classico. Just gotta relax.
Dkk
19:11
It will all be good!
Dkk
19:15
Btw no Berkeley. Friend at Berkeley law says everyone is checked out already cus of the election.
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