Warning

Info

LSDefine

Simple English definitions for legal terms

pooling clause

Read a random definition: joint tax return

A quick definition of pooling clause:

A pooling clause is a part of an oil and gas lease that allows the person leasing the land to combine their leased area with other properties for development or operation. This means that they can work together with other landowners to extract oil and gas from the ground more efficiently.

A more thorough explanation:

A pooling clause is a provision commonly found in oil and gas leases that allows the lessee (the person or company leasing the land) to combine the leased acreage with other properties for development or operation.

For example, if a company leases a piece of land for oil and gas exploration, they may also want to lease adjacent land to increase their chances of finding oil or gas. The pooling clause allows them to combine the leased acreage and treat it as one unit for drilling and production purposes.

Another example would be if multiple landowners in an area have leased their land for oil and gas exploration. The pooling clause would allow the lessee to combine all of the leased acreage into one unit for development and operation, rather than having to drill separate wells on each individual property.

The pooling clause is beneficial for both the lessee and the lessor (the landowner) as it can increase the chances of finding oil or gas and can also lead to more efficient and cost-effective operations.

pooling agreement | pooling of interests

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
18:46
do u have a dream school?
18:46
well i saw one is at fordham and one is at upenn and ik fordham isnt t14 but its better than temple and villanova
18:47
dream is duke
18:47
ooh interesting choice why Duke?
18:48
i got into fordham and so did the dumbass I was dating for like two months it’s not that hard
18:48
by which I mean if they let him in I don’t trust their standards
18:49
my dad went to duke law so i have been a fan forever
18:49
Duke is fun. I took a trip there when I was 19 or so. Really good time when I was a young rapscallion.
18:49
and ik i just dont think i gave myself enough time for a guaranteed 170+ performance
18:49
I didnt see if anyone answered my UGA question. Did anyone answer it?
18:53
@Dkkm11: are you not still a young rapscallion?
19:00
Nah, I am gray-bearded wizard.
19:02
Hmmm. I guess that’s okay.
19:03
Honestly, idk what I would call myself these days. Will probably not know until I can reflect on this part of my life which will be idk, in like 5 years when I am 32.
19:06
Does your life come in 5 year epochs typically?
19:06
Someone told me a while ago that I was probably molested as a kid because I don’t really have any clear memories of my childhood. But I don’t think I was.
1a2b3c4d26z
19:10
Inside thoughts!
19:10
this is where I post my inside thoughts
19:11
Nah, the fucked up thing about therapists is they try and make you think your parents are your enemy 99% of the time and really they should be telling you that your parents have almost no effect on the rest of your life. If they can get you to keep focusing on your parents they can keep making money.
19:12
Yeah, my life really does flow in about 5 years periods.
19:12
My crypto also flows in 5 day epochs too.
19:16
what do you do with your days as an unemployed crypto guy? do you play an instrument or something
19:47
please lawd
19:47
forgive me
19:47
its time to go back to tha old me
19:50
this is what i feel like when i get one single drill question right
19:50
when u get one wrong ;(
LSD+ is ad-free, with DMs, discounts, case briefs & more.