overriding royalty

overriding royalty
overriding royalty n: an interest in and royalty on the oil, gas, or minerals extracted from another's land that is carved out of the producer's working interest and is not tied to production costs compare royalty

Merriam-Webster’s Dictionary of Law. . 1996.

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  • Overriding royalty —   A royalty interest, in addition to the basic royalty, created out of the working interest; it is, therefore, limited in its duration to the life of the lease under which it is created.   U.S. Dept. of Energy, Energy Information Administration s …   Energy terms

  • overriding royalty — A royalty, payable under an oil lease, consisting of a designated fraction or percentage of the working interest or of the total production. 24 Am J1st Gas & O § 87. Such fractional interest in the production of oil and gas as is created from the …   Ballentine's law dictionary

  • term overriding royalty — Under Title 11 U.S.C. Section 101: (56A) The term term overriding royalty means an interest in liquid or gaseous hydrocarbons in place or to be produced from particular real property that entitles the owner thereof to a share of production, or… …   Glossary of Bankruptcy

  • royalty — roy·al·ty n pl ties 1: a right delegated (as to an individual or corporation) by a sovereign 2 a: a share of the profit or product reserved by the grantor esp. of an oil or mineral lease compare overriding royalty b: a payment made to an author… …   Law dictionary

  • royalty — Compensation for the use of property, usually copyrighted material or natural resources, expressed as a percentage of receipts from using the property or as an account per unit produced. A payment which is made to an author or composer by an… …   Black's law dictionary

  • Royalty interest — (including overriding royalty)   These interests entitle their owner(s) to a share of the mineral production from a property or to a share of the proceeds there from. They do not contain the rights and obligations of operating the property and… …   Energy terms

  • Permian Basin Royalty Trust — Infobox Company company name = Permian Basin Royalty Trust company company type = Public (nyse|PBT) company slogan = foundation = Fort Worth, Texas, United States (1980) location = Headquarters in Dallas, Texas; assets mostly in Crane County,… …   Wikipedia

  • Working interest —   An interest in a mineral property that entitles the owner of that interest to all of share of the mineral production from the property, usually subject to a royalty. A working interest permits the owner to explore, develop, and operate the… …   Energy terms

  • Dabney Oil Syndicate — The Dabney Oil Syndicate refers to a number of petroleum drilling enterprises in California involving Joseph B. Dabney and his associates. Joseph Benjamin Dabney, born 1858 in Madison County, Iowa, was in California at the turn of the 20th… …   Wikipedia

  • Ray Kroc — Raymond Albert Kroc (October 5, 1902 January 14, 1984)Fact|date=October 2008 took over the then small scale McDonald s Corporation franchise in 1954 and built it into the most successful fast food operation in the world. Kroc was included in the… …   Wikipedia

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