Examples of Petroleum Substances in a sentence
The Royalty Owner shall also have the right (which may be exercised through servants or agents) to enter at its sole cost, risk and expense upon the Royalty Lands at all reasonable times to gauge tanks, check the quantities of Petroleum Substances in storage, witness tests and otherwise view operations on the Royalty Lands.
The Grantor shall have the right to commingle Petroleum Substances produced from the Royalty Lands with Petroleum Substances produced from other lands, provided methods acceptable to the Royalty Owner are used to determine the proper measurement of individual well production.
The Royalty Owner shall be entitled to and shall have a first and paramount lien upon the Grantor's share of all Petroleum Substances from time to time produced from the Royalty Lands to secure the payment of the Overriding Royalty.
Any Overriding Royalty exemption as aforesaid shall be restricted to that portion of production used as fuel for heaters, treaters, compressors, separators, instruments and similar equipment required to produce Petroleum Substances.
The Petroleum Substances so used may be deducted from gross monthly production by the Grantor in quantifying the Overriding Royalty payable to the Royalty Owner under the preceding Subclause.