| 释义 |
oil and gas income limited partnership Oil and Gas Income Limited PartnershipA limited partnership between limited partners with limited liability and one or more general partners with unlimited liability, the purpose of which is to purchase oil or gas-producing properties or royalties generated from such a properties. The general partner uses the investment money from the limited partners to buy the properties or royalties; the typical partnership unit for a limited partner costs $5,000, and the limited partner risks no more than this investment. See also: Oil and gas drilling limited partnership.oil and gas income limited partnership A partnership in which investors' funds are used to buy oil and gas royalty interests or to buy producing oil and gas properties. This partnership ordinarily provides investors with a stream of sheltered or partially sheltered income. |