OCR Text |
Show DueEiesne Seeks Oil Lease- Commynifizaiicn The oil and gas lease-com-inunitization of the City of Duchesne townsite is well under way, according to C. H. Mul-cahy Mul-cahy of Salt Lake City, Mid-Continent Mid-Continent and Western States operator who is- sponsoring the effort. Mr. Mulcahy is being assisted as-sisted in the leasing project by J. M. Dunbar, oil and gas lease broker of Salt Lake City. The program has been favorably fav-orably received "from its outset by property owners wishing to encourage oil and gas development. develop-ment. The response to date would indicate that cornpletion of the lease will be accomplished accom-plished in the near future. Essentially, the communitiza-tion-type lease provides that in the event of commercial oil and gas production within the city limits, royalties will be paid to the lessors according to their pro rata acreage interests in the lease. |