California Law (Last Updated: March 4, 2014) |
Public Resources Code - PRC |
Division 3. OIL AND GAS |
Chapter 1. Oil and Gas Conservation |
ARTICLE 5.5. Subsidence |
Section 3316.11.
Latest version.
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"Working interest" means an interest held in lands by virtue of fee title, including lands held in trust, a lease, operating agreement or otherwise, under which the owner of such interest has the right to drill for, develop and produce oil and gas. A working interest shall be deemed vested in the owner thereof even though his right to drill or produce may be delegated to an operator under a drilling and operating agreement, unit agreement, or other type of operating agreement.
(Added by Stats. 1958, 1st Ex. Sess., Ch. 73.)