A well that is not being used either because it was a dry hole (see below), or because it ceased to produce in commercial quantities.

Document(s) of mineral ownership, including significant historical events like sales and inheritance, to prove who owns the minerals associated with a particular piece of property. This document is typically prepared by an abstract or title company.

The person or company who has been assigned an Oil and Gas Lease or Overriding Royalty.

A legal document which assigns or conveys Oil and Gas Leases or Overriding Royalties.

The person or company who has conveyed an Oil and Gas Lease or Overriding Royalty to an Assignee.

Cash settlement paid to a lessor (ie. mineral owner) by the lessee (ie. operator) after signing a lease. The amount is defined in the lease.

Once a well is producing, a statement (or stub) which documents the name of the well, production month, the volume produced, price received, and net interest of the payee.

Absolute and unquestionable legal ownership of specific minerals, free of lien or levy from creditors or other parties. Without 'clear title,' the minerals carry risk of future lawsuits and claims, and reduce their value.

A legal document, usually a deed, which transfers property title from one party to another.

Mineral rights for a specified range of depth. As an example, mineral owner 'A' can retain the Depth Rights for the first 3000' below the surface, and sell the Depth Rights for everything below 3000' to mineral owner 'B.' If a well produces at 5000', mineral owner 'B' would get the associated royalty.