Oil and Gas Glossary: N Terms
4 oil and gas terms start with the letter N. Each one is defined below, in alphabetical order.
Natural Gas Liquids, NGL
Ethane, Propane, Butane, Isobutane, Pentanes, and some heavier hydrocarbons are often referred to as Natural gas liquids or NGLs. These heavier hydrocarbon liquids, NGLs, traditionally have a higher value than the gaseous natural stream.
Net Revenue Interest, NRI
An owner’s interest in the revenues of a well.
Non-Participating Royalty Interest
A royalty interest which “participates” in any oil or gas found but does not “participate” in lease bonuses or rentals. Technically, it is an interest that participates in the gross production of minerals that have been separated from the fee estate, but does not hold executive rights.
Non-Producing Mineral Owner
An owner of minerals that are not currently being produced and sold.