As-extracted Collateral Law and Legal Definition

Pursuant to the Uniform Commercial Code, the term "As-extracted collateral" means oil, gas, or other minerals that are subject to a security interest that is created by a debtor having an interest in the minerals before extraction. Moreover, it should be attached to the minerals as extracted; or accounts arising out of the sale at the wellhead or minehead of oil, gas, or other minerals in which the debtor had an interest before extraction.