Royalty Well definition

Royalty Well means any well from which production is obtained from the Royalty Lands or may be allocated to the Royalty Lands pursuant to a pooling, unit or other arrangement.
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Royalty Well means any well from which production is obtained from the Royalty Lands or may be allocated "Target Area" means an area within which a well may be Completed without reduction of its production allowable because of the location of that well.
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Royalty Well means any well drilled into the Mineral Lands or on lands pooled or unitized with the Mineral Lands;
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Examples of Royalty Well in a sentence

  • The Royalty Payor will use reasonable efforts to produce Petroleum Substances from a Royalty Well equitably with production from any diagonally or laterally offsetting well producing from the same pool as a Royalty Well, insofar as the Royalty Payor, or its Affiliate, has an interest in that offsetting well.

  • Royalty Payor will make available to Royalty Owner Royalty Payor's production volume reporting for each Royalty Well through "Data Scavenger" or such other system as provides comparable information and is used in the ordinary course of Royalty Payor's business.

  • Producer will produce Petroleum Substances from the Mineral Lands rateably with any other similar substances produced from any well producing from spacing units contiguous to, and within the same pool as, the Royalty Well spacing unit, in so far as Producer or an affiliate, has an interest in those spacing units.

  • Where it is the operator of a Royalty Well, Royalty Payor shall not decide to convert any Royalty ▇▇▇▇▇ to another capacity such as injection or disposal because the Royalty ▇▇▇▇▇ are subject to the Overriding Royalty only.

  • The Royalty Payor will supply to the Royalty Owner notice of its intention to drill a Royalty Well on the Royalty Lands prior to the Spudding of that well.

  • Where it is the operator of a Royalty Well, Royalty Payor will not produce Petroleum Substances from a Royalty Well inequitably with production from any diagonally or laterally offsetting well operated by Royalty Payor and producing from the same pool as a Royalty Well, insofar as Royalty Payor, or its Affiliate, has an interest in that offsetting well, because the Petroleum Substances are subject to the Overriding Royalty.

  • However, if that Royalty Well is being drilled to obtain information to evaluate any petroleum and natural gas rights within 3.2 kilometers of that well that have been offered for sale at a Crown land sale and the provisions of Article 8.00 are not then in effect, the obligation to deliver that additional information will be suspended until 7 days following the applicable Crown land sale.


More Definitions of Royalty Well

Royalty Well means any and all well or ▇▇▇▇▇, and/or facility or facilities (whether presently or subsequently) located on the Royalty Lands or may be allocated to the Royalty Lands pursuant to a pooling, unitization or other arrangement from which any Royalty Substances are produced, injected, disposed, separated, treated or otherwise enhanced for sale; and
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Related to Royalty Well

  • 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;

  • Development Well means a well drilled inside the established limits of an oil or gas reservoir, or in close proximity to the edge of the reservoir, to the depth of a stratigraphic horizon known to be productive.

  • Royalty Year means, (i) for the year in which the First Commercial Sale occurs (the “First Royalty Year”), the period commencing with the first day of the Calendar Quarter in which the First Commercial Sale occurs and expiring on the last day of the Calendar Year in which the First Commercial Sale occurs and (ii) for each subsequent year, each successive Calendar Year.

  • Overriding Royalty Interest means an interest in the natural gas and oil produced under a Lease, or the proceeds from the sale thereof, carved out of the Working Interest, to be received free and clear of all costs of development, operation, or maintenance.

  • Royalty means an interest in an oil and natural gas lease that gives the owner of the interest the right to receive a portion of the production from the leased acreage (or of the proceeds of the sale thereof) but generally does not require the owner to pay any portion of the costs of drilling or operating the wells on the leased acreage.