Proceedings

acreage acres agreement application assignment basis bonus Bureau capital carried interest Commissioner construed contract costs Court of Civil decision deduction delay rentals depletion allowance depreciation economic interest effect entitled error ref'd executed exploration fee simple G and G gas lease granting clause held Helvering implied covenant income industry intangible drilling Internal Revenue Code land lease form leased premises leasehold leasehold estate lessee lessee's lessor Magnolia Petroleum Co McGlauns ment mineral fee obligation Oil & Gas oil and gas Oil Company oil or gas oil payment Okla operations option overriding royalty parties percentage depletion permit Petroleum pooling primary term problem Producers 88 Producers Oil Company production profits provision purpose question reason regulation Revenue royalty interest royalty owners rule rule of capture specific Stanolind Stephens County Superior Oil supra Supreme Court taxpayer termination thereof tion tract undivided unit