oil royalties
Petroleum owner's cut
Oil royalties are payments made to landowners or governments by companies extracting oil from their property or territory.
Typically calculated as a percentage of production value or a fixed amount per barrel, royalties compensate the owner of mineral rights for the depletion of a non-renewable resource: The tribe receives oil royalties from wells on reservation land.
Her grandfather's oil royalties funded her education.
- revenue sharingDistributing income among stakeholders
- fair shareEquitable part owed
- signing bonusPayment upon accepting employment
- contract lawRules governing binding agreements
- mineral rightsClaim to underground resources
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