This template is a memorandum of lease that summarizes an oil and gas lease without disclosing confidential information contained in the lease itself. It is filed in the county in which the leased property is located to put third parties on notice that a lease exists. This template includes practical guidance and drafting notes. Before an oil and gas exploration company can begin drilling wells to produce oil or natural gas, it must first enter into a mineral lease, giving it the right to exploit those minerals. While many leases contain standard terms, other terms such as price per acre, delay rental payments, and royalties offered to the party holding the mineral interest are unique. There may be instances when the parties to an oil and gas lease prefer not to disclose all of the details contained in the lease, but do want to put third parties on notice that the lease exists. This memorandum of lease template allows the parties to record official notice of the mineral lease without revealing all of the terms of the transaction itself. This memorandum describes, among other items, the parties to the lease, the general nature of the rights granted in the lease, the effective date of the lease, and the lease term. For a full listing of key content covering fundamental energy and utilities related topics, see Energy & Utilities Fundamentals Resource Kit. For more information on mineral lease transactions, and how to negotiate a mineral lease, see Upstream Oil & Gas Lease Transactions, Due Diligence in Upstream Oil and Gas Lease Transactions, and Oil & Gas Lease Agreement Drafting and Negotiation for the Landowner. For more information on the various property interests at play in an oil and gas leasing transaction, see Upstream Oil and Gas Interests. For a review of different leasing standards throughout all energy-producing states, see Oil and Gas Conservation and Leasing State Law Survey. To review a mineral lease template to which this memorandum of lease would refer, see Mineral Deed Form and Mineral Deed Form (Upstream Oil & Gas).