Royalty Interest (RI)
A share of production associated with a mineral interest which has been leased. Free of the expense of the production.
Overriding Royalty Interest (ORRI)
A royalty carved out of the working interest of an oil and gas lease. Free of the expense of the production.
Open Minerals
Mineral acres selling that are not currently leased or producing.
Leased Minerals
Seller is selling mineral acres they own, that are currently leased to be drilled, but have not been drilled yet.
Minerals with Royalty / Producing Minerals
Buyer is purchasing the mineral acres, rights and the production on this property. Buyer will retain mineral acres and rights even once production ceases. See deed for terms.
Leasehold-Term Minerals
Mineral acres that are leased for a term. See lease agreement for terms. Buyer is buying the lease, not purchasing the minerals themselves.
