Royalty definition

Royalty means an interest in an oil and gas lease that gives the owner of the interest the right to receive a portion of the production from the leased acreage (or of the proceeds of the sale thereof), but generally does not require the owner to pay any portion of the costs of drilling or operating the wells on the leased acreage.
Royalty means an interest, including an overriding royalty and a net profits interest, in gross production or the proceeds therefrom which does not require the owner thereof to bear any of the cost of production, development, operation or maintenance.
Royalty has the meaning set forth in Section 3.1 herein.

Examples of Royalty in a sentence

  • The Estimated Cost is excluding GST and including CESS, Royalty and Cost of Conveyance.

  • The Franchise Sales from restaurants removed from the Royalty Pool on January 1, 2022 was negative $6.2 million.

  • MOXY: Delaware Item 2(d) Title of Class of Securities: Royalty Trust Units Item 2(e) CUSIP No.: 40222T 104 Item 3.

  • This resulted in negative Royalty and Distribution to the Fund of $0.4 million.

  • The Franchise Sales from restaurants removed from the Royalty Pool on January 1, 2023 was negative $6.8 million.


More Definitions of Royalty

Royalty has the meaning set forth in Section 4.1.
Royalty has the meaning set forth in Section 5.1.
Royalty has the meaning set forth in Section 2(a).
Royalty means any amount, paid in money or in kind, in respect of Mines and Minerals produced by a Person holding an Existing Mineral Right, but not including any payment made for a service, for the creation of special purposes funds, for the issuance of a right or interest or for the granting of an approval or authorization, any payment required regardless of the ownership of the Mines and Minerals, or any payment for incentives.
Royalty means any payment based on the value or volume of production which is due to the United States or an Indian tribe or an Indian allottee on production of oil or gas from the Outer Continental Shelf, Federal, or Indian lands, or any minimum royalty owed to the United States or an Indian tribe or an Indian allottee under any provision of a lease;
Royalty shall have the meaning ascribed in Section 4 below.
Royalty means a payment from gross revenues made to the owner of the oil and gas mineral rights of a Prospect.