nonparticipating working interest owner
Defined in 1 place of the United States Code.
The term “nonparticipating working interest owner” means a gas or oil owner of a tract included in a spacing unit which elects to share in the operation of the well on a carried basis by agreeing to have its proportionate share of the costs allocable to its interest charged against its share of production of the well in accordance with subsection (f)(3).
Source
- 2016–present42 U.S.C. § 13368The Public Health and Welfare · Ownership of coalbed methane · as used in this section
The term “nonparticipating working interest owner” means a gas or oil owner of a tract included in a spacing unit which elects to share in the operation of the well on a carried basis by agreeing to have its proportionate share of the costs allocable to its interest charged against its share of production of the well in accordance with subsection (f)(3) of this section.
Source
- 1994–201642 U.S.C. § 13368The Public Health and Welfare · Ownership of coalbed methane · as used in this section