دیکشنری تخصصی مهندسی نفت - نسخه آنلاین

n: an interest carved out of the lessees working interest. It entitles its owner to a fraction of production free of any production or operating expense, but not free of production or severance tax levied on production. An overriding royalty may be created by grant or by reservation. Commonly, an override is reserved by the assignor in a farmout agreement or other assignment. An overrides duration corresponds to that of the lease from which it was created.

n: a state or municipal tax on oil and gas products levied at the wellhead for the removal of the hydrocarbons. Also called severance tax.

n: the legal instrument that conveys a share of oil or gas production. Unlike a mineral deed, a royalty deed does not create a severance of the estate.

n: the separation of a mineral or royalty interest from other interests in that land given by grant or reservation.

n: see production tax.