Lesser Interest. Should Lessor own less than the full mineral estate in all or any part of the leased premises, the royalty and shut-in payments, payable hereunder for any well on any part of the leased premises or lands pooled therewith shall be reduced to the proportion that Lessor's mineral interest in such part of the leased premises bears to the full mineral estate in such part of the leased premises.
Appears in 2 contracts
Sources: Oil, Gas and Mineral Lease, Oil, Gas and Mineral Lease (Dinoco Oil, Inc)
Lesser Interest. Should ▇▇▇uld Lessor own less than the full mineral estate in all or any part of the leased premises, premises the royalty and shut-in payments, payable hereunder for any well on any part of the leased premises or lands pooled therewith shall be reduced to the proportion that Lessor's mineral interest in such part of the leased premises bears to the full mineral estate in such part of the leased premises.
Appears in 1 contract
Sources: Joint Development Agreement (Independence Energy Corp.)