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Simple English definitions for legal terms

protection covenant

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A quick definition of protection covenant:

A protection covenant is a promise made in an oil-and-gas lease that the person leasing the property will protect it from losing oil and gas by drilling additional wells. This promise only applies if a reasonable and careful operator would also drill these wells. It is also known as a covenant to protect against drainage.

A more thorough explanation:

A protection covenant is a promise made in an oil-and-gas lease that the lessee will take measures to protect the property against the loss of oil and gas by drainage from the producing reservoir. This is done by drilling one or more offsetting wells.

For example, if a company leases a piece of land for oil and gas exploration and discovers a producing reservoir, they are obligated to drill additional wells to prevent the loss of oil and gas due to drainage. This covenant only applies if a reasonably prudent operator would drill the additional wells.

The protection covenant is important because it ensures that the lessor (the owner of the land) is not deprived of the full value of the oil and gas reserves due to drainage. It also encourages responsible drilling practices that minimize the environmental impact of oil and gas exploration.

Protection and Advocacy for Mentally Ill Individuals Act | protection money

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WorthlessAttractiveZombie
17:45
I just like the football
they produced amy coney barrett that's enough for me
WorthlessAttractiveZombie
17:45
Jack when you get in, can you recommend a worthless attractive zombie as their second pick?
you WILL get in but absolutely homie
WorthlessAttractiveZombie
17:46
Much love
i do not think i would feel accepted there as a transgender student lol. but maybe. if by miracle i do get in i'd have to visit and see
WorthlessAttractiveZombie
17:46
That’s totally fair, their IP program also isn’t the best, but it isn’t the worst
i'd go to fordham over there lol
17:47
@jackfrost11770: VA still went blue this election, i think a uni campus will be fine jack
nyc stays winning
WorthlessAttractiveZombie
17:48
I like Fordham, I just don’t like how expensive rent is gonna be
DelusionalAspirationalLion
17:48
ND is honestly not as conservative as people think - former gay ND grad
17:48
@WorthlessAttractiveZombie: what were ya looking at for nyc
17:48
Best non shit places look like 3800+
JeremyFragrance
17:48
former gay?
oh yeah for sure! all of higher education is p liberal, i just am not sure id want to be in indiana for 3 years lol esp as someone who's from nyc
17:49
my bad thought that thread was on uva not nd
WorthlessAttractiveZombie
17:50
@EvolBunny: I’m thinking about potentially living in Jersey and commuting if I have to go to Fordham
17:50
what type of commute is that
17:51
You can get the school to reassess cost of attendance for loans if you want a nicer place closer
WorthlessAttractiveZombie
17:51
I’ll definitely have to look into that bunny. I haven’t really looked too much in where I’d live yet (I’ll probably do that closer to March)
17:52
true true lol
1a2b3c4d26z
17:53
Well that fake USC acceptance was about as exciting as my day got
1a2b3c4d26z
17:53
That was a thrill
17:53
You get pranked?
1a2b3c4d26z
17:53
No somebody listed it on the recent decisions tab but they meant to put UCLA I think
18:00
There are 4 in state As today it looks like bestie :(
18:01
nvm ;)
18:01
USF CA When?
18:03
is this magic eight ball mayne
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