reasonably prudent operator standard

reasonably-prudent-operator standard. Oil & gas. The test generally applied to determine a lessee’s compliance with implied lease covenants by considering what a reasonable, competent operator in the oil-and-gas industry would do under the circumstances, acting in good faith and with economic motivation, and taking into account the lessor’s interests as well as that of the operator. — Also termed reasonable-prudent-operator standard; prudent-operator standard.

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词条贡献者

法律翻译Johnny，毕业于新加坡知名法学院，专注翻译各类与劳动、雇佣和福利有关的法律文件。