Oil And Gas Law Outline

BUAD 420 vegetable oil and Gas Law Outline 5/4/2011 Conrad Johnson Chapter 1: History, Accumulation, and Ownership C. Ownership 1. Ownership prior to ex leafletion * Gener anyy property evokes will be defined by a grant or backlog of a stated interest within a tract of land that is described by some form of break through description * nearly lands in the U.S. be described in unanimity with a federal rectangular surveying system mandated by coitus in the Land Ordincance act of 1785. * Areas not musical bow to this system are the original 13 states, Florida, Texas, and some portions of the southwesterly settled below Spanish or Mexican rule. * chain lines run North to south, and are gaunt at hexad mile intervals east and west of the selected prime meridian. * East-west lines are t protestships, draw every six miles north and south of the base line. * Creates a grid of six mile squares called townships that are didvided i nto 36 sections which are one square mile. * Rod=16.5 ft Chain=66 ft 1 mile=5280 ft, 80 chains, 320 rods * Ad Coleum Doctrine- property owner owns everything under land to center of earth and everything above the rise to the heavens * According to possession in place theory, landholder owns all substances , including inunct and natural gas, which lie under his land.

* Ownership is competent by the operation of the law of scram * If the oil and gas depart from under the land ownership in such(prenominal) substance is lost * goop right to take theory, landowner doe s not own oil and gas under his land, altog! ether has the exclusive right to capture such substances. * Once bring down to dominion and control substances fail an object of absolute ownership 2. Rule of Capture and Ownership at Extraction * Kelly v. Ohio Oil Co. (Ohio 1897) * Whatever births into a well belongs to the owner, no point where it came from * As long as operations are level-headed on own property nothing can be done to plosive consonant or limit landowners...If you want to get a to the full essay, order it on our website: OrderCustomPaper.com

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