Oilfield Glossary
Oilfield Glossary
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Searched for "shut-in royalty" in Term Name (2 result(s) found)

shut-in royalty

1. n. [Oil and Gas Business]
A payment stipulated in the oil and gas lease, which royalty owners receive in lieu of actual production, when a gas well is shut-in due to lack of a suitable market, a lack of facilities to produce the product, or other cases defined within the shut-in provisions contained in the oil and gas lease.

shut in royalty

1. n. [Oil and Gas Business]
A payment stipulated in the oil and gas lease, which royalty owners receive in lieu of actual production, when a gas well is shut-in due to lack of a suitable market, a lack of facilities to produce the product, or other cases defined within the shut-in provisions contained in the oil and gas lease.