North Dakota Code 35-37-01 – Definitions
Current as of: 2023 | Check for updates
|
Other versions
As used in this chapter:
Terms Used In North Dakota Code 35-37-01
- Person: means an individual, organization, government, political subdivision, or government agency or instrumentality. See North Dakota Code 1-01-49
1. “First purchaser” means the first person who purchases oil or gas from an interest owner at or after the time the oil or gas is severed.
2. “Interest owner” means a person owning an entire or fractional interest of any kind or nature in the oil or gas at the time it is severed, or a person who has a right, either express or implied, to receive a monetary payment determined by the value of the oil or gas severed.
3. “Operator” means a person engaged in the severance of oil or gas.
4. “Purchaser” means a person who purchases oil or gas from a first purchaser.
5. “Severed” means the taking, extraction, or production from the land of oil or gas in any manner.