Royalty interest

Royalty interest
(including overriding royalty)
  These interests entitle their owner(s) to a share of the mineral production from a property or to a share of the proceeds there from. They do not contain the rights and obligations of operating the property and normally do not bear any of the costs of exploration, development, and operation of the property.
  U.S. Dept. of Energy, Energy Information Administration's Energy Glossary
  ***
  An interest in a mineral property provided through a royalty contract.
  U.S. Dept. of Energy, Energy Information Administration's Energy Glossary

Energy terms . 2014.

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