Royalty interest owner definition

Royalty interest owner means a person or the estate of a person, other than a working interest owner, who owns the right to or interest in any portion of the oil and/or gas, or proceeds from the sale thereof, from a tract.
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Royalty interest owner means the owner of an interest in oil or gas, or in the proceeds of production from the oil or gas who does not have the obligation to share in the expenses of developing and operating the property.
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Royalty interest owner means a Party owning a Royalty Interest;
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Examples of Royalty interest owner in a sentence

  • Ridge has failed to use due diligence to perform its obligations pursuant to the Lease Agreement and the Facility Management Agreement to pay revenue attributable to the Energy Ops Royalty interest owner in full and correct amounts, resulting in a material breach of both the Lease Agreement and the Facility Management Agreement.


More Definitions of Royalty interest owner

Royalty interest owner means the owner of an interest in oil or gas, or in the
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Royalty interest owner means the owner of an interest in oil and gas that does not presently entitle the owner to explore, drill or otherwise develop those minerals, including lessors, royalty interest owners and overriding royalty interest owners. Royalty interests are non-cost bearing.
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Royalty interest owner means a person owning a royalty interest.
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Royalty interest owner means any individual who retains a non-working interest in oil or gas production.
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Royalty interest owner means a person who has a right to a share of production or a
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Royalty interest owner means any individual person who
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Related to Royalty interest owner

  • Working interest owner means a person or the estate of a person who owns an interest in oil and/or gas in the unit area by virtue of a lease, operating agreement, fee title, or otherwise, including a carried interest, the owner of which is obligated to pay, either in cash or out of production or otherwise a portion of the unit expense. “Working interest owner” does not include an unleased mineral owner.

  • Consenting working interest owner means any working interest owner who enters into an agreement with Ascent pertaining to the operation of the R Hoover S WHL BL Unit.

  • Non-consenting working interest owner means a working interest owner who does not enter into an agreement with Ascent pertaining to the operation of the Pointer W CRC JF Unit. At the time of this order, there are no non-consenting working interest owners identified by Ascent.

  • Contributor means Licensor and any individual or Legal Entity on behalf of whom a Contribution has been received by Licensor and subsequently incorporated within the Work.

  • Net Smelter Returns means the Gross Value of all Minerals, less the following costs, charges and expenses paid or incurred by Payor with respect to the refining and smelting of such Minerals: