Pete 3025 Exam 1 Questions &
Answers (Grade A+)
(Ownership theories) In place -
correct answer ✅the nature of the interest of the landowner in oil
and gas contained in the land is the same as the ownership in the
interest in solid minerals
(Ownership theories) Non-ownership -
correct answer ✅=LA law, no onw owns the oil and gas until is
produced and reduced to possession
Rule of capture -
correct answer ✅not permitted to go upon the land of another to
effect the capture
Reduce to possession -
correct answer ✅Minerals are reduced to possession when they
are under physical control that permits delivery to another
Fugitive minerals -
correct answer ✅it is necessary to have an interest in the land
where a well is drilled to capture the fugitive minerals
, Pete 3025 Exam 1 Questions &
Answers (Grade A+)
Mineral rights -
correct answer ✅The basic mineral rights that may be created by a
landowner are the mineral servitude, the mineral royalty, and the
mineral lease.
In Louisiana the mineral rights -
correct answer ✅cannot be severed from surface rights of tract of
land
Servitude -
correct answer ✅a right by which a tract of land owned by one
person is subject to a specified use by another
Royalty -
correct answer ✅the right to participate in production of minerals
from landowner or land under a mineral servitude **free of
mining/drilling and production cost
Lease -
correct answer ✅a contract by which the lessee is granted the
right to explore for and produce minerals
Answers (Grade A+)
(Ownership theories) In place -
correct answer ✅the nature of the interest of the landowner in oil
and gas contained in the land is the same as the ownership in the
interest in solid minerals
(Ownership theories) Non-ownership -
correct answer ✅=LA law, no onw owns the oil and gas until is
produced and reduced to possession
Rule of capture -
correct answer ✅not permitted to go upon the land of another to
effect the capture
Reduce to possession -
correct answer ✅Minerals are reduced to possession when they
are under physical control that permits delivery to another
Fugitive minerals -
correct answer ✅it is necessary to have an interest in the land
where a well is drilled to capture the fugitive minerals
, Pete 3025 Exam 1 Questions &
Answers (Grade A+)
Mineral rights -
correct answer ✅The basic mineral rights that may be created by a
landowner are the mineral servitude, the mineral royalty, and the
mineral lease.
In Louisiana the mineral rights -
correct answer ✅cannot be severed from surface rights of tract of
land
Servitude -
correct answer ✅a right by which a tract of land owned by one
person is subject to a specified use by another
Royalty -
correct answer ✅the right to participate in production of minerals
from landowner or land under a mineral servitude **free of
mining/drilling and production cost
Lease -
correct answer ✅a contract by which the lessee is granted the
right to explore for and produce minerals
