Lease [Mineral Lands] Law and Legal Definition

According to 30 USCS § 1702 (Title 30; Mineral Lands and Mining; Chapter 29; Oil and Gas Royalty Management), the term "lease" means “any contract, profit-share arrangement, joint venture, or other agreement issued or approved by the United States under a mineral leasing law that authorizes exploration for, extraction of, or removal of oil or gas.”