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  • Assignment Of Overriding Royalty Interest - Dog Dnr Alaska

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Assignment of Overriding Royalty Interest or Initial Separation of Overriding Royalty Interest in State of Alaska Oil and Gas, Gas Only, or Geothermal Leases Division of Oil & Gas Alaska Department.

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The royalty owner receives monthly royalty payments for 25 percent of the monthly proceeds from the sale of $1 million. If the RI is 25 percent, the NRI calculation is: 100 — 25 = 75 percent (NRI) $1,000,000 — $250,000 = $750,000 (monthly NRI)

A royalty interest is a non-possessory real property interest in oil and gas production free of production and operating expenses, which may be created by grant or by reservation or exception.

Overriding Royalties (ORR) and Net Profit Interests (NPI) Both overriding royalties and net profit interests are created out of a working interest in a property and both represent a fractional, undivided interest with the right to participate or receive proceeds from the sale of oil and gas.

In Alaska, production royalties are 3 percent of a miner's net income as calculated through the mining license tax.

Definition of overriding royalty interests is as follows: Overriding Royalty Interest: A given interest severed out of the record title interest or lessee's share of the oil, and not charged with any of the cost or expense of developing or operation.

An Overriding Royalty Interest IORRI), commonly referred to as an override, is a fractional, undivided interest granting the right to receive proceeds from the sale of oil and gas. It is not an interest in the minerals themselves, but rather in the proceeds of the sale of oil and gas.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232