Lease Information

Leases can be setup and then associated with a well on the Well Info tab of the well information window. Generally this is just a reference for your information and does not print anywhere.

If you use the Texas state compliance reports you will need to report what lease each well is associated with on the PR report. Setting up the lease on this window then associating it with each well will then include it on the PR report.

The lease information window is also used for the Land Module. The Land processing is an optional module. This same window can be opened from under the Land Files menu if you have this module.

Lease ID
A 1-10 character lease ID code for this land record.

Lease Name
The name by which this lease is referred to.

Prospect
Prospect this lease is associated with. Informational only.

County/State
The county and state where this lease is located.

Township
The township the lease is in.

Agent
The agent for this lease.

Gross Acres
The gross acreage of the lease.

Net Acres
The net acreage of the lease.

Formation

Lease Status
The status of this lease. If you need to pay a delay rental payment for this lease the status must be active. If the status is Inactive, Sold or Expired, you will not be able to create delay rental checks for that lease.

Active - The lease is actively paying delay rentals.
Expired - The lease has expired. No well was drilled in the alotted time.
HBP - Held by production. The lease has producing wells which take the place of delay rentals.
Paid up - The lease has paid the max stated in the lease agreement.
Sold - The lease has been sold to someone else.

Amended
Mark this option as a reference if the lease has been amended.

Lease Date
The date the lease was acquired.

Lease Term(Yrs.)
The length of the lease term in years.

Lease Term(Mos.)
The length of the lease term in months.

Expires
The date that the lease expires.

Recording Date
The date the lease was recorded.

Book/Page
The book and page where this lease is recorded.

Instrument No.
The number of the instrument associated with this lease if the records are stored electronically.

RRC Lease Number/RRC District Number/RRC Comingle
Used for creating Texas State Compliance Reports.

Consolidation Reference
The book and page number where the consolidation of leases is recorded.

Consolidation Recorded
The date the consolidation of leases was recorded.

Legal Description
The legal description of the lease can be recorded here.

Comments
Any comments pertaining to this lease.