Third Edition. This single-volume reference covers the basic issues in oil and gas law. Provides guidance on drafting leases; royalties; creation of interests in a mineral estate by the land owner, including conveyances and reservations of those interests; tax analysis with case illustrations and factual situations; and frequent citations to Letter Rulings, Revenue Rulings, USCA®, and Tax Regulations. An additional appendix contains examples of the forms used in oil and gas transactions, along with commentary on their substance, provisions, and execution.