Del. Code tit. 7 § 6112

Current through 2024 Legislative Session Act Chapter 510

Section 6112 - Royalty

The Secretary shall specify in the notice described by § 6107 of this title and in the lease the rate of royalty paid under such lease which royalty shall not be less than 12 1/2 percent of gross production, or the value thereof, produced and saved from the leased lands and not used by lessee for operations thereon or for injection therein. Such royalty shall, at the Secretary's option, be paid in kind or in value, and be computed after an allowance for the actual cost of oil treatment or dehydration of not to exceed $0.05 cents per barrel or royalty oil so treated or dehydrated.

7 Del. C. § 6112

7 Del. C. 1953, § 6412; 55 Del. Laws, c. 442, § 1; 59 Del. Laws, c. 212, § 1.;