Zak Coppinger, the Land Manager at PetroLegacy, will go in-depth on Lease Savings Clauses. Savings clauses are the safety nets in most oil and gas leases that keep the lease alive after the primary term and in the absence of production. These clauses include continuous drilling, continuous operations, shut-in royalties, Force Majeure, retained acreage provisions, pooling, Pugh (rolling vs. snapshot), and depth severance clauses. Many times, these clauses are an afterthought during the leasing phase of a project, but their importance shines years later when production inevitably stops. Therefore, it is important to understand what they mean and how they work. Join us as Zak walks us through these clauses, discusses real life scenarios, and how to be prepared to save your lease in the future.
PO Box 164192
Austin, Texas 78716