working interest

working interest. Oil & gas. The rights to the mineral interest granted by an oil-and-gas lease, so called because the lessee acquires the right to work on the leased property to search, develop, and produce oil and gas, as well as the obligation to pay all costs. See ROYALTY(2). — Also termed leasehold interest; operating interest. [Cases: Mines and Minerals 73.1(2). C.J.S. Mines and Minerals §§ 241, 243, 265.]

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词条贡献者

译员Roger，毕业于欧洲一流的高级翻译学院，专注翻译各种与公共及基础设施融资有关的法律文件。