POSC Specifications
Version 3.0
Epicentre Standard Values
ref_contract_designation

ref_contract_designation

Standard Instance Values

identifier description source _reference source version status
        ref _version .identifier  
client A person or organization who receives a service from another or for whom another is acting. Websters POSC epicentre 2.1 current
servitor A person or organization who provides a service to another. Websters POSC epicentre 2.1 current
seller A person or organization who is selling goods, information, equipment, property, etc. Websters POSC epicentre 2.1 current
buyer A person or organization who is purchasing goods, information, equipment, property, etc. Websters POSC epicentre 2.1 current
lessor The owner of mineral rights who has executed a lease. Manual of O and G Terms POSC epicentre 2.1 current
lessee The person entitled under an oil and gas lease to drill and operate wells. Manual of O and G Terms POSC epicentre 2.1 current
licensee A person or organization to whom a license is granted. A license gives certain rights to explore and produce in a given area (also called a concession). Rights are usually granted by a regulatory body. Manual of O and G Terms POSC epicentre 2.1 current
licensor A person or organization who has authority to grant licenses. A license gives certain rights to explore and produce in a given area (also called a concession). Rights are usually granted by a regulatory body. Manual of O and G Terms POSC epicentre 2.1 current
assignee The recipient of an interest in property or a contract. In oil and gas law, the term commonly means, but is not limited to, the transferee of an oil and gas lease. Manual of O and G Terms POSC epicentre 2.1 current
grantor A person or organization who agrees to give property or an exclusive right or power. Websters POSC epicentre 2.1 current
grantee A person or organization who is to receive property or an exclusive right or power. Websters POSC epicentre 2.1 current
agent A person or organization empowered to act for another. Websters POSC epicentre 2.1 current
broker A person or organization who acts as an intermediary in negotiating transactions. Websters POSC epicentre 2.1 current
attorney A person or organization legally empowered to act as an agent for, or in behalf of another. Websters POSC epicentre 2.1 current
attorney-in-fact A person who is appointed by a person or organization, with authority to act for the other in matters specified in the terms of the appointment.   POSC epicentre 2.1 current
lien-holder A person or organization who holds a claim on the property of another as security for the payment of a debt. Websters POSC epicentre 2.1 current
financier A person or organization who supplies money, credit, or capital to or for another. Websters POSC epicentre 2.1 current
farmor A person or organization who has made a transfer of interest in a lease via a farm-out agreement: an agreement whereby a lease owner not desirous of drilling at the time agrees to assign the lease, or some portion of it, to another operator who is desirous of drilling the tract. Manual of O and G Terms POSC epicentre 2.1 current
farmee A person or organization to whom a transfer of interest in a lease has been made via a farm-out agreement: an agreement whereby a lease owner not desirous of drilling at the time agrees to assign the lease, or some portion of it, to another operator who is desirous of drilling the tract. Manual of O and G Terms POSC epicentre 2.1 current

ref_contract_designation

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identifier description source _reference source version status
operator A person or organization engaged in the business of drilling wells for oil and gas or producing said products. Manual of O and G Terms POSC epicentre 2.1 current
mineral interest holder A person or organization that holds, solely or with others, the right to explore, drill, produce and otherwise carry on mineral exploration on a particular tract of land, sharing in the cost and benefit of this activity. Manual of O and G Terms POSC epicentre 2.1 current
royalty interest holder A person or organization that holds the right to benefit from the results of any mineral exploration on a particular tract, without sharing in the cost of said activity. Manual of O and G Terms POSC epicentre 2.1 current
consultant A person or organization who provides a specialized expertise or technical capability in support of the client's business activities.   POSC epicentre 2.1 current
regulator A person or organization with responsibility for regulating a particular segment of business activities or public policy.   POSC epicentre 2.1 current

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