120A.097 - “Mineral proceeds” defined. - Nevada Statutes

120A.097  “Mineral proceeds” defined.  “Mineral proceeds” means amounts payable for the extraction, production or sale of minerals or, upon the abandonment of those payments, all payments that become payable thereafter. The term includes, without limitation, amounts payable:

      1.  For the acquisition and retention of a mineral lease, including bonuses, royalties, compensatory royalties, shut-in royalties, minimum royalties and delay rentals;

      2.  For the extraction, production or sale of minerals, including net revenue interests, royalties, overriding royalties, extraction payments and production payments; and

      3.  Under an agreement or option, including a joint operating agreement, unit agreement, pooling agreement and farm-out agreement.

      (Added to NRS by 2007, 756)