production payment
production payment
Under Title 11 U.S.C. Section 101:
(42A) The term "production payment" means a term overriding royalty satisfiable in cash or in kind—
(A) contingent on the production of a liquid or gaseous hydrocarbon from particular real property; and
(B) from a specified volume, or a specified value, from the liquid or gaseous hydrocarbon produced from such property, and determined without regard to production costs.

United Glossary of Bankruptcy Terms 2012.


Glossary of Bankruptcy.

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