A production payment is a right to oil, gas, or other minerals in place that entitles its owner to a specified fraction of production until a specified amount of money or minerals has been received. A production payment is payable
Temporary Cessation of Production
In Natural Gas Pipeline Company of America v. Pool, 124 S.W.3d 188 (Tex.2003), lessors under three oil and gas leases contended that the leases terminated because intermittently over the years there were periods of time ranging from 30 to 153
Overriding Royalty Interest Defined
An overriding royalty is a benefit an assignor receives when he or she assigns a leasehold interest. It is an interest which is carved out of, and constitutes part of, the working interest created by an oil and gas lease.
Texas Rules of Contract Construction and Interpretation
Contract Construction: Harmonize, and only if this is not possible, is there more than one reasonable interpretation of a contract such that a fact issue is created concerning the parties’ intent. Before extrinsic evidence (any oral or written evidence outside