I normally include a Pugh Clause, No Deductions Clause, Shut-In Clause, and a Depth Clause in an Exhibit to all my leases. Am I missing anything else?
As for the Depth Clause, I use:
Depth Clause: This Oil and Gas Lease shall terminate at the end of the primary term or upon the terms of any extension to same which may be caused by the provisions contained herein, as to all depths below the stratigraphic equivalent of 100’ below the deepest depth penetrated by the deepest well commenced during the primary terms of this lease or any extension thereof on lands covered hereby or land pooled or spaced therewith.
Is this adequate?