in paying quantities


in paying quantities
A clause familiar in oil and gas leases. A yield of oil or gas in excess of operating costs. Barnard v Gibson, 100 Cal App 2d 527, 224 P2d 90. Characterizing the production of a gas well in excess of the producing and marketing cost. Benedum-Trees Oil Co. v Davis (CA6 Tenn) 107 F2d 981; Barbour, Stedman & Herod v Tompkins, 81. W Va 116, 93 SE 1038. Under the usual habendum clause, which fixes the duration of the lease at a designated number of years and so long thereafter as gas or oil shall be produced in "paying quantities," the right to an extension accrues only in the event of attainment of profitable production within the fixed term. Anno: 67 ALR 526.

Ballentine's law dictionary. . 1998.

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