A royalty interest, in addition to the basic royalty, created out of the working interest; it is, therefore, limited in its duration to the life of the lease under which it is created.
A revenue interest in oil and gas, created out of a working interest. Like the lessor's royalty, it entitles the owner to a share of the proceeds from gross production, free of any operating or production costs.
a certain percentage of the working interest which as between the lessee and assignee is not charged with the cost of development or production
a fractional interest in gross production of oil and gas under lease
an interest in real property and not an interest in income
The term applied to a royalty reserved in a sublease or assignment over and above that reserved in the original lease.
A revenue interest in oil and gas, created out of a working interest. Like the lessor's royalty, it entitles the owner to a share of the property. Responsibilities of the operator and other working-interest owners are enumerated in the joint operating agreement.
An interest in oil and gas produced at the surface free of any cost of production; royalty in addition to the usual landowner's royalty.
An interest in oil and gas to be produced that a lessee may retain when executing an assignment of an oil and gas lease.
An arrangement between the general partner and limited partner of an oil and gas program in which the general partner receives a flat fee per barrel produced.
Percentage of royalties derived from an oil and gas lease payable to someone other than the property lessor. It is a net royalty interest in the oil and gas recovered at the surface free of all operating expenses.