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.
Working interest owner means the owner of an interest in oil or gas burdened with a share of the expenses of developing and operating the property.
Working interest owner means a Party owning a Working Interest.
Examples of Working interest owner in a sentence
Working interest owner" means the owner of tracts or interests who, in the absence of a separately owned tracts comprising a unit.
More Definitions of Working interest owner
Working interest owner means the owner of a
Working interest owner means the owner of an interest in oil or gas burdened
Working interest owner means an owner of a Working Interest.
Working interest owner means the owner of an operating interest under an oil and gas lease who has the exclusive right to exploit the oil and gas minerals. Working interests are cost bearing.
Working interest owner when used herein, shall include or refer to the Unit Operator as the owner of a working interest when such an interest is owned by it.
Working interest owner means, in respect of a parcel of land, a person who has the right to drill for and produce oil and gas from the land; (« titulaire d'intérêt économique direct »)