(a) It shall be the duty of any purchaser of oil or gas to pay the royalty interest at the same time it pays the lessee or producer. However, the parties may expressly waive the time and manner of payment in writing.
(b) The purchaser shall at some time not later than the twelfth day of each month furnish each royalty owner with a statement showing the correct amount of oil or gas purchased during the previous month together with the correct amount paid each in interest therefor.
Structure Arkansas Code
Title 15 - Natural Resources and Economic Development
Subtitle 6 - Oil, Gas, and Brine
Chapter 74 - Measurement, Inspection, And Sale Of Oil And Gas
§ 15-74-702. Royalties paid in lieu of drilling off-set wells on adjacent units
§ 15-74-703. Entitlement of royalty interests to premiums and bonuses
§ 15-74-705. Purchaser's price for royalty gas
§ 15-74-706. Contracting to buy royalty gas for less than price paid operator or lessee
§ 15-74-707. Time of royalty payment — Monthly statements to royalty owner
§ 15-74-709. Default or delinquency by lessees or others responsible for payment of royalties