Royalty

{
  "id": "MLC-T-OAG-003208",
  "term": "Royalty",
  "field": "Oil and gas",
  "definition": "A share of the gross production of oil and gas, free of the costs of exploration, development, and production, paid to the mineral owner or lessor. This payment is typically expressed as a fraction, such as one-eighth or one-sixth, of the value or volume of the hydrocarbons produced. It is a key component of an oil and gas lease.",
  "subject": "Oil and Gas Business",
  "url": "https://mlchart.com/terminology/oil-and-gas/royalty/"
}