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Simple English definitions for legal terms

ownership-in-place theory

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A quick definition of ownership-in-place theory:

The ownership-in-place theory is a way of describing the rights of someone who owns land with oil and gas reserves in many states. It means that the owner has the right to use the land to search for and produce oil and gas, and also has the right to possess the oil and gas that is still in the ground. However, if the oil and gas flows out from under the owner's land, their ownership of it ends. This theory is used in states like Texas, New Mexico, Kansas, and Mississippi. In other states, like California, Wyoming, Louisiana, and Oklahoma, a different theory is used called the nonownership theory, which means that the owner of the land only has the right to search for and produce oil and gas, but not to possess it until it is removed from the ground.

A more thorough explanation:

Definition: Ownership-in-place theory is a concept used in the oil and gas industry that states the owner of a property has the right to possess the oil and gas in place, as well as the right to use the land surface to search, develop, and produce from the property. However, the owner's interest in the minerals ends if the oil and gas flows out from under the owner's land. This theory is used in several major producing states, including Texas, New Mexico, Kansas, and Mississippi.

Let's say John owns a piece of land in Texas that has oil and gas reserves underneath it. According to the ownership-in-place theory, John has the right to possess the oil and gas in place and use the land surface to extract it. However, if the oil and gas flows out from under John's land and into a neighboring property, John no longer has any claim to it.

Definition: Nonownership theory is a concept used in the oil and gas industry that states the owner of a severed mineral interest does not have a present right to possess the oil and gas in place, but only to search for, develop, and produce it. This theory is used in several states, including California, Wyoming, Louisiana, and Oklahoma.

Let's say Jane owns a severed mineral interest in a piece of land in California that has oil and gas reserves underneath it. According to the nonownership theory, Jane does not have the right to possess the oil and gas in place, but only to search for, develop, and produce it. This means that Jane's interest in the oil and gas is similar to a profit a prendre, which is a right to use the land and remove items of value from it.

owners' equity | owner's policy

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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
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.
19:05
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
19:18
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
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
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
23:25
@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
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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