PRODUCTION IN PAYING QUANTITIES (TEXAS)June 25th, 2019FiledJune 25th, 2019TEXAS OIL & GAS LEASE IS A FEE SIMPLE DETERMINABLE GRANT. THE DURATION IS GOVERNED BY THE HABENDUM CLAUSE, WHICH HAS TWO TERMS: THE PRIMARY TERM AND SECONDARY TERM.
TEXAS OIL & GAS LEASE IS A FEE SIMPLE DETERMINABLE GRANT. THE DURATION IS GOVERNED BY THE HABENDUM CLAUSE, WHICH HAS TWO TERMS: THE PRIMARY TERM AND SECONDARY TERM.