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Simple English definitions for legal terms

pooling clause

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A quick definition of pooling clause:

A pooling clause is a part of an oil and gas lease that allows the person leasing the land to combine their leased area with other properties for development or operation. This means that they can work together with other landowners to extract oil and gas from the ground more efficiently.

A more thorough explanation:

A pooling clause is a provision commonly found in oil and gas leases that allows the lessee (the person or company leasing the land) to combine the leased acreage with other properties for development or operation.

For example, if a company leases a piece of land for oil and gas exploration, they may also want to lease adjacent land to increase their chances of finding oil or gas. The pooling clause allows them to combine the leased acreage and treat it as one unit for drilling and production purposes.

Another example would be if multiple landowners in an area have leased their land for oil and gas exploration. The pooling clause would allow the lessee to combine all of the leased acreage into one unit for development and operation, rather than having to drill separate wells on each individual property.

The pooling clause is beneficial for both the lessee and the lessor (the landowner) as it can increase the chances of finding oil or gas and can also lead to more efficient and cost-effective operations.

pooling agreement | pooling of interests

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MrThickRopes
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I fear you guys are not nearly locked-in enough
Why $0 at Harvard just to do litigation? Are you actually going to do your original plan post grad? @UncleIroh
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U better be locked in as fuck to go to Harvard at sticker $600k debt is so nasty
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MrThickRopes
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MrThickRopes
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Getting into da law skool was da easy part
MrThickRopes
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@UncleIroh: is that what u told zuko
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