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.

---

词条贡献者

法律翻译郭敏，毕业于欧洲顶尖的高级翻译学院，擅长翻译涉及互动娱乐领域的法律文件。