Landowner 

 leased by an oil and gas lease.  Sometimes the surface owner is referred to as a landowner.  Typically, when oil and gas people talk about the the “landowner,” they are talking about the mineral owne [..]

 – A lease of the minerals from the landowner (the “Lessor”) to the oil and gas company (the “Lessee”). Typically, when production of oil and/or gas occurs, the landowner will receive a bonus and a ro [..]

Movie stars and recording artists receive a royalty every time their movie or song is played.  Under the terms of an oil and gas lease, landowners receive a royalty on the value of oil and gas that is [..]

An overriding royalty or an “override

A working interest is ownership in the lease itself, including the right to drill and produce oil and/or gas.  Working interest owners fully participate in the profits of a successful well and pay for [..]

A net revenue interest (NRI) is the total revenue interest that a party owns in an oil and gas lease, well or drilling unit.  For example, if ABC Oil Company owns 100% working interest and Joe Landown [..]

A carried working interest is the working interest that is owed to one party (typically a dealmaker) after all drilling costs are paid and sales are generated on the well.  For example, ABC Oil Compan [..]

Drilling units are not to be confused with spacing units created from field spacing rules.  Every landowner within a drilling unit is paid revenue on production proportional to their participation in [..]