Oil & Gas Glossary 1.0
OIL & GAS TECHNICAL TERMS GLOSSARY
If you are looking for a definition of any technical terms in oil & gas field, then this site is yours.
Until now, we've collected around 2000 technical terms, but if this still not enough, and you've found any term that is not in our database, please contact us, and we will happily find it for you, or you can just check it again later, because every unsuccessful search will be recorded by our system for later update.
Thanks and happy searching ^^.
Search Result for Royalty
royalty
The portion of oil, gas, and minerals retained by the lessor on execution of a leases or their cash value paid by the lessee to the lessor or to one who has acquired possession of the royalty rights, based on a percentage of the gross production from the property free and clear of all costs except taxes.
depletion allowance
A reduction in US taxes for owners of an economic interest in minerals in place to compensate for the exhaustion of an irreplaceable capital asset. This economic interest includes mineral interest, working interest in a lease, royalty, overriding royalty, production payment interest, and net profits interest.