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Simple English definitions for legal terms

pooling clause

Read a random definition: waiver of exemption

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

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JumpySubsequentDolphin
11:16
I told my family I won’t get any decisions until 2025 so they wouldn’t bombard me hahah
no i think there should be a Law School combine with all new drills except there is still the 40 yard dash
and a sub 4.5 gets you into any t14
LSAT can be one of the drills
letsseehowitgoesnow
11:17
so washu only called one person
So all the D1 athletes will get into a T-14. What else is new?
@TheAdoptedOne: that is called "Dean Poker Night" lol
@ClockworkBlue: I feel like most people could train for the 40 for the same amount of time as they do the LSAT and get close to sub 5 which would be equivalent to a 167+
this is like the schizophrenic posts JJK tik tok be putting out
powerscaling Law School deans up next
11:19
Election Day election day
Write in Dean Z vote
11:20
Saw a guy that wrote in Biden and he said no retirement for you buddy
1a2b3c4d26z
11:20
@ClockworkBlue: god I hope that's true
if the country was run the same as Mich Law it would be a better place
Imagine if election night was run by an adcom? Like, "yep, we could get the results Friday, or June 2025."
imagine if it was like Berkley applications
1a2b3c4d26z
11:22
Election status: Complete
1a2b3c4d26z
11:22
For months
triplethread
11:23
erection day
soapy
11:23
Shoutout to Robinhood's election bet not resolving until January
triplethread
11:23
is anyone else like certain that trump will win
ambitiouslizard
11:23
he aint winning
triplethread
11:23
i like being a pessimist
ambitiouslizard
11:24
he lost his re-election, why would he win this one?
1a2b3c4d26z
11:25
I have no idea why people have so much beef w berkeley's app
I've been reading a bit about "herding," which is this idea that pollsters are making the race look tied so they look right no matter who wins.
1a2b3c4d26z
11:26
Like... it's a more involved app but you don't have to do it? They're clearly trying to have some self-selection go on
I 100% agree with the self selection, I also am not even close to touching the medians there. However I think the huge PS plus the video and especially the very specific criteria for the why Berkeley essay is pretty crazy
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