Summary and Final Tasks

Summary and Final Tasks

Summary

There are a variety of factors that need to be taken into account by landowners and energy companies when it comes to oil and gas development.  First companies need to do some upfront homework to evaluate whether there are economically recoverable volumes of oil or gas in an area during the exploration phase.  If so then this may lead to company landmen offering leases to the surrounding landowners.  As the landowner, if a company wants to lease your oil and gas rights you have significant financial and legal questions to answer.  Some people may be very excited at the prospect of the economic benefits with oil and gas development beneath their property, while others may be fearful of the environmental risks or disturbances with development activities.  Each state has developed a regulatory framework that requires energy companies to follow, which factor in as many of the risks as possible and seek to allow the development of the oil and gas resources our society uses while balancing protection of human health and the environment.

Reminder - Complete all of the Lesson 5 tasks!

You have reached the end of Lesson 5! Double-check the to-do list on the Lesson 5 Overview page to make sure you have completed all of the activities listed there before you begin Lesson 6.