Canada Oil and Gas Operations Act

Marginal note:How percentages of interests to be determined

• 47 (1) The percentages of interests referred to in subsections 39(1), 41(2), 42(2) and 44(2) shall be determined

  • (a) with respect to royalty interests, on a prorated area basis; and

  • (b) with respect to working interests, on the basis of tract participations shown in the unit agreement.

• Marginal note:Owner deemed to be royalty owner on a prorated area basis

  (2) Where a working interest in a unit tract is held as an incident of the ownership of a fee simple estate in oil or gas, the owner who holds that working interest shall, for the purposes of subsection (1), be deemed to be a royalty owner in respect of the tract on a prorated area basis under paragraph (1)(a).