Oil and gas lottery

Oil and gas lottery,

Definition of Oil and gas lottery:

  1. A former program headed by the United States Bureau of Land Management, which established the foundation for the current oil and gas leasing auction program. The program is referred to as the oil and gas lottery because any unsold parcels are put into a lottery system that determines to whom the unsold parcels will go.

Meaning of Oil and gas lottery & Oil and gas lottery Definition