Dry-hole clause

A dry-hole clause is a provision in an oil or Natural gas lease specifying what a lessee must do to maintain the lease for the remainder of a primary term after drilling a "dry hole." Usually, the lessee will just have to pay delay rentals.

Leading cases

Superior Oil Co. v. Stanolind Oil & Gas Co., 150 Tex. 317, 240 S.W.2d 281 (1951)

Murphy v. Garfield Oil Co., 98 Okla. 273, 225 P. 676 (1923)

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gollark: Also, what random stuff should go in a modded Minecraft base?

gollark: Lightbulbs don't include hidden cameras, they just run the LEDs backwards to detect light. Obviously.

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