SHUT-IN ROYALTY CLAUSE

glossary /

SHUT-IN ROYALTY CLAUSE

shut-in royalty clause. Oil & gas. A provision in an oil-and-gas lease allowing the lessee to maintain the lease while there is no production from the property because wells capable of production are shut in. ? The lessee pays the lessor a shut-in royalty in lieu of production.
What is the legal translation of SHUT-IN ROYALTY CLAUSE in Chinese?
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