Royalty owner definition

Royalty owner means any owner of oil and gas in place, or oil and gas rights, to the extent that the owner is not an operator as defined in subsection (17) of this section;

Royalty owner means an owner of what is commonly known as the royalty interest and shall not include the owner of any overriding royalty or other payment carved out of the working interest.

Royalty owner means an owner of what is commonly known as the royalty interest

Examples of Royalty owner in a sentence

• 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.

• The Royalty Owner shall have the right to audit the records of the Grantor insofar as they relate to any matter or items required to determine the accuracy of any statements or payments with respect to the Overriding Royalty.

• If the Royalty Owner transfers, assigns or otherwise disposes of any part of its interest hereunder to more than one party, it shall ensure that one of the parties to whom such disposition is made shall be nominated to receive the payment of the Overriding Royalty on behalf of all such parties and until written notice of such nomination is received by the Grantor, the Grantor shall be entitled to continue to make payments of the Overriding Royalty to the Royalty Owner.

• Where governmental regulations or orders require segregated production tests of individual xxxxx at intervals not greater than two months, such tests will be deemed acceptable to the Royalty Owner under this Clause and no further tests will be required.

More Definitions of Royalty owner

Royalty owner means any owner of oil and gas in place, or oil and gas rights, to the

Royalty owner means a person or entity entitled to receive periodic royalty payments for a nonworking interest in the production of oil or gas.

Royalty owner means the person who pursuant to a lease arrangement with another has the right to receive, free of costs, an allocation of production or payments based upon the value of production.

Royalty owner means the owner of a royalty

Royalty owner means any owner of oil and gas in place,

Royalty owner means any owner of an interest in an oil and gas lease that entitles him to share in the production of the oil and gas under the lease.

Royalty owner means any owner of gas or oil in place, or owner of gas or oil rights, who is