What is the royalty clause in the oil and gas lease?

Royalty Payment Clauses A royalty is agreed upon as a percentage of the lease, minus what was reasonably used in the lessee's production costs. This is stipulated in a Royalty Clause. The royalty is paid by the lessee to the owner of the mineral rights, the lessor in the lease.

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Montana
Relinquishment Provision - All offset Wells

Montana Relinquishment Provision - All offset Wells

Category:

Oil Gas and Minerals - Agreements

State:

Multi-State

Control #:

US-OG-716

Format:

Instant download

Description

This clause addresses the responsibilites in the event any Party elects not to participate in the drilling of a well and provides for the relinquishment of interest and assignments by that party.

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FAQ

Compensatory royalties are often assessed based on the production from the. well deemed to be draining the lease. Some leases base the compensatory royalty on a. percentage of the adjacent wells' production, while others are silent.

Royalty Payment Clauses A royalty is agreed upon as a percentage of the lease, minus what was reasonably used in the lessee's production costs. This is stipulated in a Royalty Clause. The royalty is paid by the lessee to the owner of the mineral rights, the lessor in the lease.