BACK-IN RIGHT
back-in right. Oil & gas. A reversionary interest in an oil-and-gas lease entitling an assignor to a share of the working interest after the assignee has recovered specified costs from production.
[Blacks Law 8th]
back-in right. Oil & gas. A reversionary interest in an oil-and-gas lease entitling an assignor to a share of the working interest after the assignee has recovered specified costs from production.
[Blacks Law 8th]