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Royalty Interest | definition

An interest in an oil and natural gas lease that gives the owner of the interest the right to receive a portion of the production from the leased acreage (or of the proceeds of the sale thereof), but generally does not require the owner to pay any portion of the costs of drilling or operating the wells on the leased acreage.

Return to the Glossary of R Terms or the Index of Oil & Gas Terms to search the oilfield glossary