Join our newsletter and get a free copy of "Maximizing Your Minerals"

Discover how you can:

  • Negotiate the best lease for your minerals
  • Understand how the oil companies work
  • Prevent costly mistakes

*Your information will not be shared with others.

First Right of Refusal | definition

A provision in leases stating that the operator has the right to top lease before any third party does. (This in effect is an option – the option to review and preempt a transaction by another party).

Return to the Glossary of F Terms or the Index of Oil & Gas Terms to search the oilfield glossary