Mineral interest means the interest in the minerals beneath the surface of a tract of land. A mineral interest may be severed from the ownership of the surface of the tract. Ownership of a mineral interest generally involves four incidents of ownership: (1) the right to use the surface; (2) the right to incur costs and retain profits, also called the right to develop; (3) the right to transfer all or a portion of the mineral interest; and (4) the right to retain lease benefits, including bonuses and delay rentals.
Mineral interest means any interest in minerals, oil, or gas, including, but not limited to, any right derived di- rectly or indirectly from a mineral, oil, or gas lease, deed, or royalty convey- ance.
Mineral interest means the right to explore, drill or produce oil and gas lying beneath the surface of property.
Examples of Mineral interest in a sentence
Mineral interest does not include an interest in oil or gas or an interest in sand, gravel, limestone, clay, or marl.History: Add.
Mineral interest acquisition costs and exploration and evaluation expenditure incurred is accumulated and capitalised in relation to each identifiable area of interest.
Dundee City Council’s performance is comparable with Council B and better than Councils C and D.
Mineral interest acquisition, exploration and evaluation expenditure incurred is accumulated and capitalised in relation to each identifiable area of interest.
Mineral interest shall mean the ownership of any minerals, mines, quarries, mineral springs, overriding royalty interest, and production payments with respect to oil and gas leases.
More Definitions of Mineral interest
Mineral interest means any fee mineral interests or an undivided fee mineral interest, mineral interests, non-participating royalty interests, term mineral interests, coalbed methane interests, oil interests, gas interests, reversionary interests, reservations, concessions, executive rights or other similar interests in Hydrocarbons in place or other fee interests in Hydrocarbons.
Mineral interest means any royalty, overriding royalty, working, leasehold, or other property interest in coalbed methane, oil, or gas assets or related products, or any right to acquire such interests.
Mineral interest means an interest in a mineral estate, however created and regardless of form, whether absolute or fractional, divided or undivided, corporeal or incorporeal, including a fee simple or any lesser interest or any kind of royalty, production payment, executive right, nonexecutive right, leasehold, or lien, in minerals, regardless of character.
Mineral interest defined. A mineral interest means the interest which is created by an instrument transferring, either by grant, assignment, or reservation, or otherwise an interest, of any kind, in any subsurface mineral. [1984 c 252 § 2.]
Mineral interest means any inter- est in minerals, oil, or gas, including, but not limited to, any right derived directly or indirectly from a mineral, oil, or gas lease, deed, or royalty con- veyance.
Mineral interest means the interest in the minerals beneath the surface of a tract of land. A mineral interest may be severed from the ownership of the
Mineral interest means any (a) right of Pledgor to extract minerals from the ground, (b) minerals that have been extracted from the ground, and (c) proceeds or payments owing to Pledgor by virtue of the lease or sublease of mineral rights or the sale of minerals.