Federal Lease Law and Legal Definition

According to 42 USCS § 7101 [Title 42. The Public Health and Welfare; Chapter 84. Department of Energy], "Federal lease" means an agreement which, for any consideration, including but not limited to, bonuses, rents, or royalties conferred and covenants to be observed, authorizes a person to explore for, or develop, or produce (or to do any or all of these) oil and gas, coal, oil shale, tar sands, and geothermal resources on lands or interests in lands under Federal jurisdiction.