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

资深译员姚坚，毕业于一所培养高级翻译以及跨文化事务专家的精英大学，专注翻译各种与私募资本有关的法律文件。