Leasing Analyst: Definition, Duties, Salaries and How To
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Oil and gas exploration and extraction is a large industry that requires land acquisitions and lease agreements to accomplish its purposes. Real estate and land professionals analyze land ownership for resource exploration and extraction. Understanding the roles and responsibilities of a leasing analyst in this industry can help you determine your career development path. In this article, we discuss what a leasing analyst is, what they do, how much they make and the highest paying states for this job, along with how to become a leasing analyst.
What is a leasing analyst?
A leasing analyst is a real estate and land professional with specialized knowledge in oil and gas regulations for establishing lease agreements between an extraction company and a landowner. These analysts, also known as landmen, research ownership for lands that a company desires to explore for natural gases and minerals, including petroleum. Leasing analysts keep their knowledge of land lease agreements updated to ensure that their terms and conditions comply with current standards and practices. They manage complicated land lease agreements that outline terms for expiration, renewals, rent rates, termination clauses, share disbursements, property maintenance and other clauses.
What does a leasing analyst do?
A leasing analyst identifies the owners of land and interprets the local, state and federal regulations of that land to determine what items a company needs on a lease agreement to explore and extract natural resources. They travel to land locations with land developers and company personnel to measure and map their desired land to create clear definitions for land to lease. Leasing analysts create lease agreement offers and term outlines to propose to landowners for a mutually beneficial deal. These lease agreements involve share disbursements that provide payments to landowners.
These payments vary depending on the specific lease terms decided on by the oil and gas company and the landowner or landowners. Leasing analysts maintain agreement records and update them as needed to maintain their accuracy and to reflect share balances. They monitor all company lease agreements and their profit margins and research industry trends to determine the profitability of retaining a lease on specific pieces of land. As oil and gas regulations require companies to file lease management reports, leasing analysts review, audit and organize lease agreements and their associated paperwork.
Related: 14 Highest-Paying Oil Field Jobs
How much does a leasing analyst make?
Leasing analysts, landmen and other related job titles make an average of $73,003 per year, according to the latest data from Indeed salaries. This salary average varies depending on location, company, experience and education. These professionals experience a similar trend in employment growth as those in environmental policy and natural resource extraction fields. As a career in oil and gas extraction, leasing analysts and other land professionals may expect an average employment growth of 8% within the next 10 years.
Highest paying states for a leasing analyst
Leasing analyst salaries and demand can vary based on the location and availability of land with oil and gas. When searching for opportunities to develop your career as a leasing analyst, consider researching locations with the most natural resources. The following states have the highest reported state salary averages for leasing analysts: For the most up-to-date Indeed salaries, please click on the links below:
Texas: Texas is one of the highest paying states for occupations involving oil and gas extraction, with two of its cities reporting salary averages above $60,000 per year. The Texas cities of Houston and Fort Worth have an average of $86,438 per year and $63,228 per year, respectively.
Colorado: Colorado's capital city, Denver, reports a high salary average of $83,276 per year. The state of Colorado ranks within the top 10 states in the nation for natural resource production, including oil and gas, with over 7,000 public oil or gas wells.
Louisiana: The most populous city in Louisiana, Lafayette, reports a high salary average of $83,139 per year. A significant portion of Louisiana's economy involves oil and gas production and ranks within the top five states in the nation for natural gas production and reserves.
How to become a leasing analyst
Consider the following steps to become a leasing analyst:
1. Graduate high school or the equivalent
Requirements for leasing analysts vary depending on company and locations, but many employers require at least a high school diploma or equivalent. When completing high school courses, consider enrolling in electives related to land or business. You can also research online general education development programs to earn an equivalent certification.
2. Obtain a relevant degree
Having an associate or bachelor's degree in accounting, business or finance is beneficial for developing your analytical knowledge and transaction strategies. As this career path involves negotiating and contract maintenance, understanding how to manage business transactions and perform basic calculations provides you with the necessary skill set to succeed. Consider pursuing higher levels of education to earn higher salary or title levels.
3. Learn how to use geographic information system software
Within a land and lease field, it's important to understand how to use geographic information system software for land calculations and mapping. This software provides land explorations and excavation professionals with the ability to store, visualize and analyze data. Leasing analysts can use this software to maintain accurate records for profits, shares and other resource performance.
4. Gain experience in the oil and gas industry
As accounting, business and finance degree programs don't require geography coursework, you may consider interning at oil and gas companies to gain industry experience while learning how to use geographic information system software. Interning provides you with on-the-job training and experience learning specific aspects of the industry. As you gain experience, you can develop your business knowledge for industrial contracts, such as joint operating agreements, which is beneficial to your lease agreement negotiations and drafting.
5. Receive a lease and title analyst certification
To further develop a leasing analyst career path, you can consider applying for a national lease and title analyst certification. This type of certification requires an exam and seven years in the industry as a leading analyst. Those with a bachelor's degree can substitute two of those seven years with their degree, and advanced degrees can substitute a year in addition to the first two.
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