1. When reviewing a document to determine what has been granted what is the best way, in most situations, to address this issue?

Examine the title of the document

Examine the signature of the grantor

Examine the notary public's acknowledgement

Examine the words of grant in the document

Ask the opinion of the grantor

Ask the opinion of the grantee

None of the above

2. The most common estate granted in the U.S. in real estate transactions is a:

Life estate

Estate for years

Estate per accidens

Fee simple absolute

Terminable fee estate

None of the above

3. A party gets a grant of real property from the U.S. government. What do they generally own, if they have been awarded the grant in fee simple absolute?

Surface rights

Mineral rights

Ground level rights to the heavens

Ground level rights to the center of the earth

Underground water

All of the above

4. You are granted a fee simple absolute title to property from the U.S. government. Can a government entity restrict the use of those lands without compensating you as the owner?

No, the owner has the 'full bundle of sticks'

No, the rights are inherent in the U.S. Constitution

Yes, to protect the public health, welfare and safety

Yes, as part of the constitutional power to take property without compensation

None of the above

5. A fee simple absolute estate does not include which of the following attributes?

Power to convey

Power to designate who will inherit

Lasts an indefinite time period

Has the bundle of rights to utilize the land as desired

The right to compel easements over adjoining tracts

6. When the estates are severed, with a separate surface owner and separate mineral owner, who owns the fresh groundwater?

Surface owner

Mineral owner

Surface and mineral owner jointly

The local water district owns the water

It is subject to court interpretation

7. An owner of the mineral estate in fee simple absolute owns how deep under the surface?

A reasonable distance

100 feet below mean sea level 3

To China

To the center of the earth

None of the above

8. Texas has a somewhat unique system to describe real property because:

The early legislature was very creative

Texas used to be a separate county and adopted portions of Spanish law

The early legislature adopted the system proposed by Thomas Jefferson

All of the above

None of the above

9. When the surface estate and mineral estate are separated it is called a:

Conveyance

Sequoyah

Per quarum

Severance

None of the above

10. The surface owner owns which of the following where the mineral estates is severed:

Fresh water

Oil

Natural gas

Coal

None of the above

11. Which of the following rights does an mineral owner convey to a lessee in an oil and gas lease?

Right to bonus

Right to royalty

Right to lease (executive right)

Right to explore and produce

None of the above

12. Which of the following is the most correct statement when the mineral and surface ownership are split?

A surface owner is more difficult to locate than a mineral owner

Both the surface owner and mineral owner are equally difficult to locate

A mineral owner is more difficult to locate than a surface owner

Mineral rights can be abandoned in Texas and revert to the surface owner

None of the above

13. Under the rule of capture:

A party needs a certificate of ownership to claim title to oil

A party can suck oil from under adjoining property but needs to account to that owner

A party can drill a well horizontally into adjoining property and produce the oil without permission

A party only has ownership vest when the oil is reduced to possession

None of the above

14. The Heisman Trophy is awarded to the best college football player. Mr. Heisman, who was a cooper and made his fortune making oil barrels back in the day. Which of the following is true?

A barrel of beer is 42 gallons

A barrel of wine is 42 gallons

A barrel of oil is 42 gallons

A barrel of beer, wine, and oil are all 42 gallons

None of the above

15. When establishing a drilling and spacing unit in Oklahoma what experts are not needed?

Petroleum engineer

Petroleum accountant

Geologist

Landman

Need all of the above

16. In a drilling and spacing unit if you want to drill at a location not allowed in the rule, what is the terminology used to describe the exception?

Increased density well

Proration limit

Well location exception

Drill site permit

None of the above

17. A 'drilling window' is:

The window out of the drilling rig

The time during which a well can be spudded

The time between drilling and first production taxes

The setback a well must have from the property line

None of the above

18. In Texas, Rule 37:

Establishes drilling and spacing units

Allows the operator to pool leases into a unit under certain conditions

Allows the operator to drill multiple wells to the same formation in a unit

Does not require a downhole survey or plat to get a drilling permit

None of the above

19. At the Kardell 1-H well pad, which of the following is true:

The well head was located on the pad

Produced waste water tanks were located on the pad

A compressor was located on the pad

A road provided restricted access to the pad

All of the above

20. In an unconventional shale well, versus a traditional well, which of the following is true?

Initial production rates are much higher

Decline rates are much higher

Most of the revenues are generally received in the first two years of production

A well with a high productive capacity might not be economic

All of the above

21. In Texas, versus Oklahoma, which clause is very important yet very different in the lease form:

The royalty clause

The habendum clause

The pooling clause

The granting clause

None of the above

22. The 'Rule of Capture' has been limited by:

The Elliff doctrine

The Fair Share doctrine

The Correlative Rights doctrine

The concept that one has duties to joint and nearby owners

All of the above

23. Regulatory agencies have the power to regulate and restrict property use:

As they see fit if a public purpose is served

As they see fit if a private purpose is served

For the health, welfare and safety of the public

If the financial detriment to the public is minimal

None of the above

24. The Spindletop Lucas #1 well in South Texas opened up the "Age of Oil". Which of the following is true?

The well was drilled on top of a Gulf Coast salt dome

The well was drilled on top of an anticline

The well was drilled into a fault trap/syncline

The well was not profitable to the operator

None of the above

25. When a well is located in a drilling and spacing unit and is properly set back from the lease line but drains across property lines:

This constitutes an actionable trespass

This constitutes actionable negligence

This constitutes an action for conversion

This constitutes a strict liability claim

None of the above