Nevada Revised Statutes 120A.097 – ‘Mineral proceeds’ defined
Current as of: 2022 | Check for updates
|
Other versions
‘Mineral proceeds’ means amounts payable for the extraction, production or sale of minerals or, upon the abandonment of those payments, all payments that become payable thereafter. The term includes, without limitation, amounts payable:
Terms Used In Nevada Revised Statutes 120A.097
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
1. For the acquisition and retention of a mineral lease, including bonuses, royalties, compensatory royalties, shut-in royalties, minimum royalties and delay rentals;
2. For the extraction, production or sale of minerals, including net revenue interests, royalties, overriding royalties, extraction payments and production payments; and
3. Under an agreement or option, including a joint operating agreement, unit agreement, pooling agreement and farm-out agreement.