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Oil and Gas Granting Instruments In the Beginning 5 Granting Instruments – Evolution of the Oil and Gas Granting Instruments: Three basic stages: 1. Oil and Gas Lease 2. Concession Contracts 3. Production Sharing Contracts 6 In the Beginning – the Drake Well – Colonel Edwin L. Drake (right) and his good friend Peter Wilson, a Titusville pharmacist, in front of the historic Drake well in 1861. This was the second derrick and engine house - the first one burned down in 1859. 7 Granting
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  Oil and Gas GrantingInstruments  5   In the Beginning  6 Granting Instruments  –Evolution of the Oil and Gas Granting Instruments:Three basic stages:1.Oil and Gas Lease2.Concession Contracts3.Production Sharing Contracts  7 In the Beginning –the Drake Well  – Colonel Edwin L. Drake (right)and his good friend Peter Wilson,a Titusville pharmacist, in front of the historic Drake well in 1861.This was the second derrick andengine house -the first oneburned down in 1859.
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