overriding royalty

noun

: an interest in and royalty on the oil, gas, or minerals extracted from another's land that is carved out of the producer's working interest and is not tied to production costs compare royalty

Dictionary Entries Near overriding royalty

Cite this Entry

“Overriding royalty.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/overriding%20royalty. Accessed 18 Apr. 2024.

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