Business / Real Estate / Oil And Gas Lease: A grant of the sole and exclusive right to extract oil and/or gas from beneath the surface of land. Such a lease is generally for a designated term of years and is subject to a payment of royalties in the event of production, the commencement of drilling operations on or before a specified date and the performance within a specified time of a certain amount of development work. Typically, an express or implied easement is granted to enter the property in order to drill.
Business / Agriculture / Price Elasticity Of Demand: The relationship between the change in the price of a commodity and the corresponding change in the quantity that is sold. If a small change in the price is accompanied by a relatively large change in MORE
Business / Real Estate / Press Release: A news announcement written by a property manager or advertising specialist highlighting a propertys features. Sent to local newspapers and real estate magazines to promote a property. MORE