How would you share in revenue if you were not the record owner?
Example would be... 50 years ago 4 brothers sign a lease on the property they inherited which includes the mineal rights... They got royalty payments then and their heirs get royalties as long as they still own the minerals and continuing production. Their income stream is as Royalty Owners, they get a piece of the gross.
Lets say they leased to Smith Oil Co. and later Smith assigns the lease to Jones oil company and keeps an overriding royalty interest. So now Smith has a piece of the gross too.
Jones has the net the "working interest". You could have a case where Jones and a bunch of other folks all have pieces of the working interest and one of them could be designated the operator and have the operators liability. I just found that out.
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