The Interaction Between the Common Law Implied Covenants to Prevent Drainage and Market and the Federal Oil and Gas Lease

Abstract

This Article will review the historical development of implied covenants in oil and gas leases and discuss two principal covenants, the implied covenant to prevent drainage and the implied covenant to market. Thereafter, the Article will review the relevant statutes, regulations, administrative decisions, and judicial opinions that relate to the application of implied covenant law to federal and Indian oil and gas leases.