Transcription of OVERVIEW OF OIL AND GAS CONTRACTS
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OVERVIEW OF OIL AND GAS CONTRACTS
1 OVERVIEW OF oil and gas CONTRACTS1 A n d r e w R . T h o m a s2 I. Background T h e r e i s a j o b s o m e w h a t u n i q u e t o t h e A m e r i c a n o i l a n d g a s i n d u s t r y c a l l e d a " l a n d m a n . " A landman, historically, ran records at the parish or county courthouse relating to the subsurface mineral rights associated with a proposed drilling location, and then went out and negotiated leases from the landowners who controlled those rights. As such, landmen were the point of contact between the operator and the mineral rights owner. For many, especially in the early years of petroleum development, landmen were the face of the upstream oil and gas industry. Over the years, landmen became more sophisticated at drafting and negotiating a variety of oil and gas CONTRACTS .
variety of oil and gas contracts. Many had law degrees. In the late 1980s, as American oil and gas companies began to look more and more to international opportunities to explore for hydrocarbons, landmen were recast as “petroleum negotiators,” since oil and gas property rights owned by sovereign nations were uncomplicated.
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