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Simple English definitions for legal terms

reasonable-development covenant

Read a random definition: research and development

A quick definition of reasonable-development covenant:

A reasonable-development covenant is a promise made in an oil-and-gas lease that the lessee will continue to develop the property once production is obtained. This means that they will act like a responsible and careful operator, rather than just holding onto the lease because they already have some production. Essentially, it ensures that the property is being used to its full potential.

A more thorough explanation:

A reasonable-development covenant is a promise made in an oil-and-gas lease that the lessee will continue to develop the property in a reasonable manner once production is obtained. This means that the lessee cannot simply hold onto the lease by the production already obtained, but must continue to explore and develop the property as a reasonably prudent operator would.

For example, if a company leases land for oil and gas exploration and successfully drills a well that produces oil, they are obligated to continue developing the property by drilling additional wells and exploring other areas of the property for potential production. They cannot simply sit on the lease and collect royalties from the existing well.

The reasonable-development covenant is important because it ensures that the property is being developed in a responsible and efficient manner, maximizing the potential for oil and gas production and benefiting both the lessee and the lessor.

reasonable-consumer test | reasonable deviation

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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.
BulbasaurNoLikeCardio
7:51
@texaslawhopefully: best prices and only fast food that doesn't make me sick
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