shut in royalty clause

shut-in royalty clause. Oil & gas. A provision in an oil-and-gas lease allowing the lessee to maintain the lease while there is no production from the property because wells capable of production are shut in. • The lessee pays the lessor a shut-in royalty in lieu of production.

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词条贡献者

双语律师Raymond，亚洲知名法学院法律专业，擅长翻译各类与生物科技与制药相关的法律文件。