Definition of "oil-lease" [oil-lease]

• A grant to a lessee of the right to bore within certain limits for “oil, salt, or other minerals,” the work to be commenced within a certain time and “to be prosecuted with all reasonable diligence.” (noun)
• The land covered by such a lease. (noun)

The Century Dictionary (Public Domain)

• "Obama's speech on energy policy announced a couple of initiatives - $15B/year plus oil-lease fees going to renewables R&D after election."
• "Congressman James Garfield, who became a substantial investor in oil lands—and, later, President of the United States—reported to an oil-lease salesman that he had discussed oil with a number of other members of Congress, “who are in the business, for you must know the fever has assailed Congress in no mild form.”"
• "Their moves were upstaged Wednesday by the Bush administration, which announced a long-planned action to move forward with big oil-lease sales in Alaska."