Mineral interest: A property interest that is created by an instrument that transfers, by a grant, assignment, reservation, or otherwise, an interest of any kind in coal, O&G, and other minerals.
Landowner or non-participating royalty interest: A property interest in O&G minerals, whose owner is entitled to a share of production when there is production. A royalty interest is free of the costs of production.
Working interest: A percentage of ownership in an O&G lease that grants its owner the right to explore and produce O&G from a tract of property (operating or non-operating).
Overriding royalty interest: Non-operating/non-expense bearing working interest in the production of O&G rather than a property interest in the minerals in the ground.
Net revenue interest: A property interest the assignee of a lease actually has in the profits of the mineral-production operations, free of production costs after all overriding royalties are paid out.