Lease 1 : (1) A legal document that conveys to an operator the right to drill for oil and gas. (2) The tract of land, on which a lease has been obtained, where the producing wells and production equipment are located. (ITOGP)
The Mudblogger (Oilfield, Energy and Related Photographs), Oil Field Glossary, TX, USA 2014. http://mudblogger.com/oilfield-glossary/, (Oil - Amer) {777}