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Working interest
An interest in a mineral property that entitles the owner of that interest to all of share of the mineral production from the property, usually subject to a royalty.
A working interest permits the owner to explore, develop, and operate the property. The working-interest owner bears the costs of exploration, development, and operation of the property and, in return, is entitled to a share of the mineral production from the property or to a share of the proceeds therefrom. It may be assigned to another party in whole or in part, or it may be divided into other special property interests.
Gross working interest. The reporting company's working interest plus the proportionate share of any basic royalty interest or overriding royalty interest related to the working interest.
Net working interest. The reporting company's working interest is not including any basic royalty or overriding royalty interests. Author: Admin :: Hits: 4 :: Added: Thu Jun 14 2007 ::
