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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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How to use or fill out the Assignment Of Overriding Royalty Interest - Dog Dnr Alaska online

This guide provides clear instructions for completing the Assignment Of Overriding Royalty Interest - Dog Dnr Alaska form online. Whether you are a seasoned user or new to digital document management, this step-by-step approach will assist you in accurately filling out the necessary information.

Follow the steps to successfully complete your form.

  1. Click the ‘Get Form’ button to access the Assignment Of Overriding Royalty Interest form. This allows you to open the document in your preferred editing interface.
  2. Begin by entering the Lease ADL number and the corresponding segment information as required.
  3. Fill in the details for the Assignor/Seller, including their full name and address.
  4. Next, provide information for the Assignee/Buyer, including their full name and address.
  5. Indicate the type of assignment by checking the appropriate box for either a secondary transfer of existing overriding royalty interest or an initial separation of overriding royalty interest.
  6. List the current overriding royalty interest ownership percentage held by the Assignor, ensuring to express it in decimal format with five digits after the decimal point or as previously approved.
  7. Specify the amount to be assigned by providing the appropriate decimal percentage.
  8. State the percentage of ownership that the Assignor is retaining, again expressing this in decimal format as required.
  9. Fill in the details of the lands affected by the assignment, including township, range, and meridian information. If further explanation is needed, attach Exhibit A.
  10. Complete the signature section, ensuring that both the Assignor and Assignee provide original signatures, along with the date and printed names or titles. Include necessary qualification file numbers for representatives only.
  11. After completing all sections, review the application for any errors or omissions that could result in delays.
  12. Once reviewed, you can save changes, download, print, or share the completed form as needed.

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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
Privacy Notice
Legal Hub
Content Takedown Policy
Bug Bounty Program
About Us
Blog
Affiliates
Contact Us
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
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 WorkFlow
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
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