Shut in Royalty
Shut in Royalty :
(n.) Oil and Gas Business. A payment stipulated in the oil and gas lease, which royalty owners receive in lieu of actual production, when a gas well is shut-in due to lack of a suitable market, a lack of facilities to produce the product, or other cases defined within the shut-in provisions contained in the oil and gas lease. See: Oil And Gas Lease, Royalty
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