Overriding royalty

{
  "id": "MLC-T-OAG-002660",
  "term": "Overriding royalty",
  "field": "Oil and gas",
  "definition": "A fractional share of the gross production of oil and gas, free of the costs of exploration, development, and production, carved out of the lessee's working interest. It is an interest in the leasehold estate, not the mineral estate, and terminates when the underlying lease terminates. This interest is often created to compensate landmen or geologists.",
  "subject": "Oil and Gas Business",
  "url": "https://mlchart.com/terminology/oil-and-gas/overriding-royalty/"
}