net working-interest production definition
net working-interest production. ’ means a working-interest (operating or non-operating) share of oil and gas production after deduction of royalty obligations and of production allocated to government authorities under a production-sharing contract or other oil and gas permit plus the Corporation’s interest in production. Under a production-sharing contract, ‘‘net working- interest production’’ equals the sum of the volume of cost-recovery oil and the share of profit oil allocated to the contractor.
net working-interest production. ’ means a working-interest (operating or non-operating) share of oil and gas production after deduction of royalty obligations and of production allocated to government authorities under a production-sharing contract or other oil and gas permit. Under a production-sharing contract,