- 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.
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