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Landman: A self-employed individual or company employee who secures oil and gas leases, checks legal titles, and attempts to cure title defects so that drilling can begin. Landmen are a crucial, integral, and vital part of the energy industry. Landmen work for oil companies in Texas, New Mexico, Oklahoma, Lousiana, Kansas, Arkansas, Virgina, North Carolina, South Carolina, and New York. Several universities have added professional land management as a major.
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Glossary
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Abandon: to cease producing oil and gas from a well when it becomes unprofitable
Absolute ownership: the theory that minerals such as oil and gas are fully owned in place before they are extracted and reduced to possession. Despite this theory, title to oil and gas may be lost by legitimate drainage and by the rule of capture.
Abstract based title opinion: a title opinion based upon a complete abstract of title, plus other relevant documents,
Abstract company: a private company in the business of preparing abstracts of title and performing related services. Also called abstract plant
Abstract of title: a collection of all of the recorded instruments affecting title to a tract of land.
Abstract plant n: See abstract company
Acknowledgement: a declaration or an avowal of any act or fact made by a signatory party to a document to a notary public or other public official authorized to take an acknowledgement to give it legal effect.
Acquired land: Land owned by the United State, acquired by deed of otherwise. Such land has never been in the public domain or has been in the public domain at one time and been disposed of, later being reacquired by purchase, condemnation, or donation
Acreage contribution: acreage owned in the vicinity of a test being drilled by another party and contributed to the driller of the well in return for information obtained from its drilling. The assignment is usually made on completion of the well.
Administrator: person appointed by the court to administer the estate of someone who dies without leaving a will, that is who dies intestate.
Adverse possession: a method of asserting and gaining title to property against other claimants, including the record owner. The claim through adverse possession must include certain acts (as required by statue) over an uninterrupted interval of time. It must also be, in most states, "open" and "notorious" and "hostile"
AFE: authority for expenditure.
Affiant: the person who makes a sworn statement.
Affidavit: a written affirmation of fact made and sworn to before a notary public or other authorized official. The official signs a certificate called a jurat stating that the affidavit was signed and sworn to before him.
Allotted land: Indian land designated for use be a specific individual, although the title is still held by the United States. In the case of the Five Civilized Tribes, the title is help by the allottee, but leasing, operations, and so forth are subject to the control if the United States.
AMI: area of mutual interest
Anniversary date: the date, usually one year from the effective date of the lease, by which rentals must be paid to maintain the lease in effect in the absence of drilling or production.
APO: after payout. Commonly used in land departments
Area of mutual interest: an area usually outlined on a plat attached to a farmout agreement or described in an exhibit, allowing both parties the first right of refusal on leases acquired by either party after the agreement is executed
Arpent: a French unit of measurement, equal to 191.833 feet.
Assignment: a transfer of rights and interest in real or personal property or rights under a contract—for example, the transfer of an oil and gas lease from the original lessee to another party.
Assignment Clause: a clause in any instrument that allows either party to the instrument to assign all or part of his interest to others.
Attest: to verify or witness, by a designated company official, the signature of the signing company officer and the affixing of the official company or corporation seal.
Authority for expenditure: an estimate of costs prepared by a lease operator and sent to non operators for their approval before work is undertaken. Normally used in connection with well drilling operations.
Base Abstract – An abstract of title that contains full and complete copies of all recorded instruments for a particularly described tract of land from the sovereignty of the soil to the date of the abstractor's certificate.
Base Line - Lines which run east to west throughout the United States and which along with meridians form the basis of the congressional township system of land surveys.
Beneficiary — One who is to receive benefits from actions of another. The beneficiary of a trust is the principal for whom the Trust was set up and is the receiver of the benefits of the trust.
Bequeath – To make a gift of personal property by means of a will. Compare to devise. Blanket Conveyance – A conveyance that has a broad description, i.e., "all my land in Paola County" or "all my interest in the Harris Gas Unit." It is not limited to a specific property or amount of interest.
Bonus — The consideration paid to an owner of minerals for an Oil and Gas Lease (usually paid at the time of execution).
BPO – abbr. Before payout.
Broker - (1) One who, being licensed by the state, assists in negotiating sales, purchases, loans and leasing of real property. (2) One who employs field landmen for third party land services. (3) An independent field landman.
-C- Case Law – See common law.
Certified Copy – A copy made from records in a recorder's office or county clerk's office, certified to by the recorder or county clerk as being the exact copy of the paper on file or of record.
Cessation of Production Clause – In oil and gas leases, a clause that provides the lessee with the right to begin new operations within a stated time period should production cease.
Chain of Title — A chronological list of all records, conveyances, mortgages, and court actions which show the condition of a tract of land.
Civil Law – See statute law.
Cloud on Title - A defect in the title of real property arising from an instrument or court order purporting to create an interest in the property or a judgment or lien affecting the property.
Commercial Quantity – An amount of oil and gas production large enough to enable the operator to realize a profit, however small.
Common Law – A system of law based on court decisions, or judicial precedent, rather than on legislated statutes or executive decrees. Common law began in England and spread to the colonies. Also called "case law."
Community Lease — A single lease covering two or more separately owned tracts of land.
Community Property — Property, usually acquired during marriage, belonging to both husband and wife equally. (Texas is a Community Property state)
Congressional Township System — See Rectangular Survey System.
Consideration — The price, inducement, or influence which induces a contracting party to enter into a contract. Can be for "money" or "love and affection" as in a gift deed.
Construction – In contract law, the interpretation given by a court of competent jurisdiction.
Contiguous – Adjacent to, in contact with or touching.
Continuous Development Clause – In an oil and gas lease, a clause designed to keep drilling operations going steadily after the primary term has expired.
Counterparts — A series of identical instruments to be signed by persons in different locations or a large number of persons. The instrument will be binding upon anyone signing any of the counterparts regardless of how many of the other persons sign and all counterparts are treated as one instrument.
Contract – A written agreement that can be enforced by law, listing the terms under which the acts required are to be performed.
Convey – To transfer title to property from one party to another, usually by a written instrument.
Conveyance — The means by which title to real property is transferred.
Co-owners – See co-tenants. Cotenants – Persons who hold interests, under a title or a lease, in the same piece of land. Also called tenants in common.
Cure a Title – to remedy defects and omissions that, in the opinion of the examining attorney, could make the owner's claim to the property questionable. The examiner may require additional information and facts not seen in the information examined.
Cursory Examination - A quick check as opposed to a detailed check.
Curtesy — The interest a husband has in the real property belonging to his wife.
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Damage Clause – In an oil and gas lease, the clause specifying that the lessee will be liable to the surface owner for damage to crops and other surface features.
Dedication - An appropriation of land to some public use, made by the owner, and accepted for such use by or on behalf of the public.
Deed — An instrument in writing and sealed, conveying an interest in real property.
Deed of Trust — Sometimes called a Trust Deed. It is the instrument which conveys subject property to a Trustee to be held as security for the debt named therein.
Default - A failure to abide by the terms of a contract such as a mortgage.
Deferred Bonus — A bonus paid to a mineral owner at a later date usually to avoid excess tax payments by the mineral owner.
Delay Rental - A sum of money payable to the Lessor for the privilege of deferring the commencement of drilling operations under the terms of the Lease.
Depletion — The reduction in the value of an asset by reason of the taking away of exhaustible material assets or resources, such as the cutting of trees from a forest or the removal of oil from a well.
Depository Bank - The bank shown on the Lease to which payment of the delay rentals may be made to the credit of Lessor.
Descent and Distribution - Refers to method of passing and distributing property of an intestate decedent to the rightful heirs of the decedent as prescribed by the laws of the state of decedent's domicile.
Description — A statement, usually in writing, that identifies a particular tract or parcel of land by known and accepted landmarks.
Determinable Fee – An interest in property that will end at the happening or non-happening of a particular event. In Texas an oil and gas lease is considered a grant of a determinable fee.
Devise - Disposition of land or property by the Last Will and Testament of a donor.
Devisee — One who receives anything under a will. Disclaimer — The disavowal or denial by a person of an interest in a particular tract of land or mineral estate.
Dispossess — The removal of a person, by proper proceedings, out of possession of real property.
Division Order — An instrument, signed by each mineral interest owner in a unit, that establishes the prorata share each interest is to receive as a result of production of the well.
Dower - The interest a wife has in the real property belonging to her husband.
Draft – A written order drawn on a bank that authorizes payment of a specific sum of money for a specific purpose to a named person.
Drilling and Delay Rental Clause – In an oil and gas lease, the clause that allows the lease to expire after a given period of time unless drilling begins or a delay rental is paid.
Duhig Rule - Refers to the case of Duhig v. Peavy—Moore Lumber Co., 135 Tex. 503, 144 S.W.2d 878 (1940) wherein the court held in favor of the grantee in a deed where the grantor did not clearly state how much interest he had in minerals. When he reserved one—half of the minerals to himself, he forfeited his right to those minerals since one-half of the minerals had already been reserved by a prior owner and the new grantee, being an innocent third party, understood from the language of the deed that he was to receive one-half of the minerals. In summary, when the grantor does not clearly state what interest he has in the minerals in a deed, whatever he reserves, he first reserves for parties who had made prior reservations and then to himself.
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Easement — Any of certain rights held by a person or corporation in land of another as in a right-of-way easement.
Ejectment — A proceeding to recover possession of land or damages for unlawful detention.
Eminent Domain - The right by which a government entity, public utility or common carrier may take private property for public use.
Encroachment — Unlawful gains upon the lands, property, or authority of another.
Encumbrance — An interest or right in real property which diminishes the value of the fee such as mortgages, judgments, and easements.
Equity — The extent of actual value one has in real property.
Equity of Redemption - The right of a mortgagor to redeem the mortgaged premises by payment of interest and principal.
Escheat — The reversion of property to the state or other government entity due to lack of heirs, or, the lack or failure of persons legally entitled to hold said property.
Escrow — The placing of a deed, money or other thing in the hands of a third party to be held until certain conditions are met by one or both of the other two parties.
Estate - The interest which one has in property.
Estoppel – A bar, a prevention. Estoppel occurs when a person is prevented, by the proceedings of some duly constituted authority or by his own action, from denying the truth of a fact or from doing something contrary to his own previous actions or assertions.
Et al — Latin term meaning "and others."
Et ux — Latin term meaning "and wife." Et vir — Latin term meaning "and husband."
Eviction — The act of removing a person from lands he had held by process of law.
Execution – the completion of a legal instrument by the required actions, for example, by signing and delivering the instrument.
Executive Right - The right to negotiate for and grant Oil, Gas and Mineral Leases on a particular tract of land regardless of the interest held in the minerals or royalty.
Executor(male)/Executrix(female) — A person who has been appointed in a will to carry out directions and requests of the deceased person. Note that an Administrator is appointed by a court when no will was left while an Executor implies that a will exists.
Executory Rights - See "Executive Right."
Exhibit – See rider.
Express - Definite and explicit. Usually contrasted with "implied."
Taken from Land and Leasing 1984
Taken from Landman 101 and out public sources
Absolute ownership: the theory that minerals such as oil and gas are fully owned in place before they are extracted and reduced to possession. Despite this theory, title to oil and gas may be lost by legitimate drainage and by the rule of capture.
Abstract based title opinion: a title opinion based upon a complete abstract of title, plus other relevant documents,
Abstract company: a private company in the business of preparing abstracts of title and performing related services. Also called abstract plant
Abstract of title: a collection of all of the recorded instruments affecting title to a tract of land.
Abstract plant n: See abstract company
Acknowledgement: a declaration or an avowal of any act or fact made by a signatory party to a document to a notary public or other public official authorized to take an acknowledgement to give it legal effect.
Acquired land: Land owned by the United State, acquired by deed of otherwise. Such land has never been in the public domain or has been in the public domain at one time and been disposed of, later being reacquired by purchase, condemnation, or donation
Acreage contribution: acreage owned in the vicinity of a test being drilled by another party and contributed to the driller of the well in return for information obtained from its drilling. The assignment is usually made on completion of the well.
Administrator: person appointed by the court to administer the estate of someone who dies without leaving a will, that is who dies intestate.
Adverse possession: a method of asserting and gaining title to property against other claimants, including the record owner. The claim through adverse possession must include certain acts (as required by statue) over an uninterrupted interval of time. It must also be, in most states, "open" and "notorious" and "hostile"
AFE: authority for expenditure.
Affiant: the person who makes a sworn statement.
Affidavit: a written affirmation of fact made and sworn to before a notary public or other authorized official. The official signs a certificate called a jurat stating that the affidavit was signed and sworn to before him.
Allotted land: Indian land designated for use be a specific individual, although the title is still held by the United States. In the case of the Five Civilized Tribes, the title is help by the allottee, but leasing, operations, and so forth are subject to the control if the United States.
AMI: area of mutual interest
Anniversary date: the date, usually one year from the effective date of the lease, by which rentals must be paid to maintain the lease in effect in the absence of drilling or production.
APO: after payout. Commonly used in land departments
Area of mutual interest: an area usually outlined on a plat attached to a farmout agreement or described in an exhibit, allowing both parties the first right of refusal on leases acquired by either party after the agreement is executed
Arpent: a French unit of measurement, equal to 191.833 feet.
Assignment: a transfer of rights and interest in real or personal property or rights under a contract—for example, the transfer of an oil and gas lease from the original lessee to another party.
Assignment Clause: a clause in any instrument that allows either party to the instrument to assign all or part of his interest to others.
Attest: to verify or witness, by a designated company official, the signature of the signing company officer and the affixing of the official company or corporation seal.
Authority for expenditure: an estimate of costs prepared by a lease operator and sent to non operators for their approval before work is undertaken. Normally used in connection with well drilling operations.
Base Abstract – An abstract of title that contains full and complete copies of all recorded instruments for a particularly described tract of land from the sovereignty of the soil to the date of the abstractor's certificate.
Base Line - Lines which run east to west throughout the United States and which along with meridians form the basis of the congressional township system of land surveys.
Beneficiary — One who is to receive benefits from actions of another. The beneficiary of a trust is the principal for whom the Trust was set up and is the receiver of the benefits of the trust.
Bequeath – To make a gift of personal property by means of a will. Compare to devise. Blanket Conveyance – A conveyance that has a broad description, i.e., "all my land in Paola County" or "all my interest in the Harris Gas Unit." It is not limited to a specific property or amount of interest.
Bonus — The consideration paid to an owner of minerals for an Oil and Gas Lease (usually paid at the time of execution).
BPO – abbr. Before payout.
Broker - (1) One who, being licensed by the state, assists in negotiating sales, purchases, loans and leasing of real property. (2) One who employs field landmen for third party land services. (3) An independent field landman.
-C- Case Law – See common law.
Certified Copy – A copy made from records in a recorder's office or county clerk's office, certified to by the recorder or county clerk as being the exact copy of the paper on file or of record.
Cessation of Production Clause – In oil and gas leases, a clause that provides the lessee with the right to begin new operations within a stated time period should production cease.
Chain of Title — A chronological list of all records, conveyances, mortgages, and court actions which show the condition of a tract of land.
Civil Law – See statute law.
Cloud on Title - A defect in the title of real property arising from an instrument or court order purporting to create an interest in the property or a judgment or lien affecting the property.
Commercial Quantity – An amount of oil and gas production large enough to enable the operator to realize a profit, however small.
Common Law – A system of law based on court decisions, or judicial precedent, rather than on legislated statutes or executive decrees. Common law began in England and spread to the colonies. Also called "case law."
Community Lease — A single lease covering two or more separately owned tracts of land.
Community Property — Property, usually acquired during marriage, belonging to both husband and wife equally. (Texas is a Community Property state)
Congressional Township System — See Rectangular Survey System.
Consideration — The price, inducement, or influence which induces a contracting party to enter into a contract. Can be for "money" or "love and affection" as in a gift deed.
Construction – In contract law, the interpretation given by a court of competent jurisdiction.
Contiguous – Adjacent to, in contact with or touching.
Continuous Development Clause – In an oil and gas lease, a clause designed to keep drilling operations going steadily after the primary term has expired.
Counterparts — A series of identical instruments to be signed by persons in different locations or a large number of persons. The instrument will be binding upon anyone signing any of the counterparts regardless of how many of the other persons sign and all counterparts are treated as one instrument.
Contract – A written agreement that can be enforced by law, listing the terms under which the acts required are to be performed.
Convey – To transfer title to property from one party to another, usually by a written instrument.
Conveyance — The means by which title to real property is transferred.
Co-owners – See co-tenants. Cotenants – Persons who hold interests, under a title or a lease, in the same piece of land. Also called tenants in common.
Cure a Title – to remedy defects and omissions that, in the opinion of the examining attorney, could make the owner's claim to the property questionable. The examiner may require additional information and facts not seen in the information examined.
Cursory Examination - A quick check as opposed to a detailed check.
Curtesy — The interest a husband has in the real property belonging to his wife.
-D-
Damage Clause – In an oil and gas lease, the clause specifying that the lessee will be liable to the surface owner for damage to crops and other surface features.
Dedication - An appropriation of land to some public use, made by the owner, and accepted for such use by or on behalf of the public.
Deed — An instrument in writing and sealed, conveying an interest in real property.
Deed of Trust — Sometimes called a Trust Deed. It is the instrument which conveys subject property to a Trustee to be held as security for the debt named therein.
Default - A failure to abide by the terms of a contract such as a mortgage.
Deferred Bonus — A bonus paid to a mineral owner at a later date usually to avoid excess tax payments by the mineral owner.
Delay Rental - A sum of money payable to the Lessor for the privilege of deferring the commencement of drilling operations under the terms of the Lease.
Depletion — The reduction in the value of an asset by reason of the taking away of exhaustible material assets or resources, such as the cutting of trees from a forest or the removal of oil from a well.
Depository Bank - The bank shown on the Lease to which payment of the delay rentals may be made to the credit of Lessor.
Descent and Distribution - Refers to method of passing and distributing property of an intestate decedent to the rightful heirs of the decedent as prescribed by the laws of the state of decedent's domicile.
Description — A statement, usually in writing, that identifies a particular tract or parcel of land by known and accepted landmarks.
Determinable Fee – An interest in property that will end at the happening or non-happening of a particular event. In Texas an oil and gas lease is considered a grant of a determinable fee.
Devise - Disposition of land or property by the Last Will and Testament of a donor.
Devisee — One who receives anything under a will. Disclaimer — The disavowal or denial by a person of an interest in a particular tract of land or mineral estate.
Dispossess — The removal of a person, by proper proceedings, out of possession of real property.
Division Order — An instrument, signed by each mineral interest owner in a unit, that establishes the prorata share each interest is to receive as a result of production of the well.
Dower - The interest a wife has in the real property belonging to her husband.
Draft – A written order drawn on a bank that authorizes payment of a specific sum of money for a specific purpose to a named person.
Drilling and Delay Rental Clause – In an oil and gas lease, the clause that allows the lease to expire after a given period of time unless drilling begins or a delay rental is paid.
Duhig Rule - Refers to the case of Duhig v. Peavy—Moore Lumber Co., 135 Tex. 503, 144 S.W.2d 878 (1940) wherein the court held in favor of the grantee in a deed where the grantor did not clearly state how much interest he had in minerals. When he reserved one—half of the minerals to himself, he forfeited his right to those minerals since one-half of the minerals had already been reserved by a prior owner and the new grantee, being an innocent third party, understood from the language of the deed that he was to receive one-half of the minerals. In summary, when the grantor does not clearly state what interest he has in the minerals in a deed, whatever he reserves, he first reserves for parties who had made prior reservations and then to himself.
-E-
Easement — Any of certain rights held by a person or corporation in land of another as in a right-of-way easement.
Ejectment — A proceeding to recover possession of land or damages for unlawful detention.
Eminent Domain - The right by which a government entity, public utility or common carrier may take private property for public use.
Encroachment — Unlawful gains upon the lands, property, or authority of another.
Encumbrance — An interest or right in real property which diminishes the value of the fee such as mortgages, judgments, and easements.
Equity — The extent of actual value one has in real property.
Equity of Redemption - The right of a mortgagor to redeem the mortgaged premises by payment of interest and principal.
Escheat — The reversion of property to the state or other government entity due to lack of heirs, or, the lack or failure of persons legally entitled to hold said property.
Escrow — The placing of a deed, money or other thing in the hands of a third party to be held until certain conditions are met by one or both of the other two parties.
Estate - The interest which one has in property.
Estoppel – A bar, a prevention. Estoppel occurs when a person is prevented, by the proceedings of some duly constituted authority or by his own action, from denying the truth of a fact or from doing something contrary to his own previous actions or assertions.
Et al — Latin term meaning "and others."
Et ux — Latin term meaning "and wife." Et vir — Latin term meaning "and husband."
Eviction — The act of removing a person from lands he had held by process of law.
Execution – the completion of a legal instrument by the required actions, for example, by signing and delivering the instrument.
Executive Right - The right to negotiate for and grant Oil, Gas and Mineral Leases on a particular tract of land regardless of the interest held in the minerals or royalty.
Executor(male)/Executrix(female) — A person who has been appointed in a will to carry out directions and requests of the deceased person. Note that an Administrator is appointed by a court when no will was left while an Executor implies that a will exists.
Executory Rights - See "Executive Right."
Exhibit – See rider.
Express - Definite and explicit. Usually contrasted with "implied."
Taken from Land and Leasing 1984
Taken from Landman 101 and out public sources