gas lease

A gas lease is a legal agreement between a landowner and a gas company, granting the company the right to extract natural gas from the land. In exchange, the landowner receives payments, such as royalties, based on the amount of gas produced. The lease outlines terms like duration, how rights are exercised, and responsibilities. Essentially, it licenses the company to access and develop underground gas reserves while providing the landowner with financial benefits and defined protections.