marketable product rule

marketable-product rule. Oil & gas. For royalty-calculation purposes, the doctrine that “production” occurs when oil or gas is pumped up, stored, and made marketable through processing. • Until producing a marketable product, the lessee bears all costs of capturing and handling oil and gas. Cf. CAPTURE-AND-HOLD RULE.

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词条贡献者

译者大智，毕业于一所旨在培养高级翻译专业人才的翻译院校，擅长翻译各种与环境保护相关的法律文件。