Sec. 2.
Definitions. The following words and terms as used in this act shall each have the meaning ascribed to them in this section.
(a) “Person” means any natural person, corporation, association, partnership, receiver, trustee, judiciary or common law trust, guardian, executor, administrator or fiduciary of any kind.
(b) “Oil” means natural crude oil or petroleum or other hydrocarbons, regardless of gravity, which are produced at the well in liquid form by ordinary production methods and which are not the result of condensation of gas after it leaves the underground reservoir.
(c) “Gas” means dry or natural gas, casinghead gas or gas produced incidental to the production of oil.
(d) The phrase “oil and gas” shall not only refer to the oil and gas as such in combination 1 with the other, but shall also have general reference to oil, gas, casinghead gas or other hydrocarbons or any combination or combinations thereof, or any 1 thereof, which may be found in or produced from a natural reservoir or common source of supply of oil or gas or both.
(e) The term “royalty interest” means that share of the produce or profits which the owner of land, or the oil and gas rights in such land, reserves or is entitled to whether under a lease or under the provisions of this act in consideration of permitting the owner of the working interest to develop such oil and gas mineral rights.
(f) The term “working interest” means that share of the produce or profits to which the person who develops the oil and gas mineral rights is entitled by reason thereof pursuant to either the provisions of a lease providing therefor or to the provisions of this act.
(g) The singular shall include the plural and the plural shall include the singular. Each of the genders shall include each of the other genders.
History: 1941, Act 178, Eff. Jan. 10, 1942 ;-- CL 1948, 319.102
Last modified: October 10, 2016