Section 30-5-305 – Collection; Reporting and Remittance of Royalties.
30-5-305. Collection; reporting and remittance of royalties. (a) Unless otherwise expressly provided for by specific language in an executed written agreement, “royalty”, “overriding royalty”, “other nonworking interests” and “working interests” shall be interpreted as defined in W.S. 30-5-304. A division order may not alter or amend the terms of an oil or gas lease or […]
Section 30-5-304 – Definitions.
30-5-304. Definitions. (a) As used in this act: (i) “Lessee” means the person entitled under an oil and gas lease to drill and operate wells, paying the lessor a royalty and retaining the remainder, known as the working interest. The lessee pays all costs of production out of his interest, the lessor’s interest being free […]
Section 30-5-301 – Payment for Production; Time for Payment; Payor.
30-5-301. Payment for production; time for payment; payor. (a) The proceeds derived from the sale of production from any well producing oil, gas or related hydrocarbons in the state of Wyoming shall be paid to all persons legally entitled thereto, except as hereinafter provided, commencing not later than six (6) months after the first day […]
Section 30-5-302 – Payment for Production; Interest on Late Payments.
30-5-302. Payment for production; interest on late payments. Any delay in determining any person legally entitled to an interest in the proceeds from production shall not affect payments to all other persons entitled to payment. In instances where payment cannot be made for any reason within the time limits specified in W.S. 30-5-301(a), the lessee […]
Section 30-5-303 – Payment for Production; Penalty for Violation; Jurisdiction; Costs and Fees.
30-5-303. Payment for production; penalty for violation; jurisdiction; costs and fees. (a) Any lessee or operator, purchaser or other party legally responsible for payment who violates the provisions of this article is liable to the person or persons legally entitled to proceeds from production for the unpaid amount of such proceeds, plus interest at the […]