Colorado Assignment and Conveyance of Overriding Royalty Interest

State:
Multi-State
Control #:
US-OG-280
Format:
Word; 
Rich Text
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Description

This form is used by the Assignor to transfer, assign, and convey to Assignee all of Assignor's overriding royalty interest in a Lease and all oil, gas and other minerals produced, saved and sold from the Lease.
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FAQ

An overriding royalty interest (ORRI) is an interest carved out of a working interest. It is: A percentage of gross production that is not charged with any expenses of exploring, developing, producing, and operating a well.

Overriding Royalty Interest Conveyance means an assignment, in form and substance acceptable to Lender, pursuant to which Borrower grants in favor of Lender an overriding royalty interest equal to six and one-fourth percent (6.25%) of Hydrocarbons produced, saved and sold or used off the premises of the relevant Lease, ...

You may convey overriding royalty interest on either an Assignment of Record Title Interest (Form 3000-3), a Transfer of Operating Rights (Form 3000-3a), or on a private assignment. We only require filing of one signed copy per assignment plus a nonrefundable filing fee found at 43 CFR 3000.12.

If at any time Assignee desires to transfer or dispose of all or any portion of the Overriding Royalty Interest, Assignee must first give to Assignor written notice thereof stating: (a) the amount of the Overriding Royalty Interest offered by Assignee; (b) the form of consideration (which shall be either cash or a ...

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. The interest provides no control over the operations of the lease, only revenue from lease production.

To calculate the number of net royalty acres I'm selling, I use this formula: [acres in tract] X [% of minerals owned] X 8 X [royalty interest reserved in lease] X [fraction of royalty interest being sold]. 640 acres X 25% X 8 X 1/4 X 1/2 = 160 net royalty acres.

How to calculate the overriding royalty interest? ORRI = NRI * 5 percent. $750,000 * 0.005 = $3,750.

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Record Title: Primary ownership of an interest in an oil and gas lease including the obligation to pay rent, and the right to transfer and relinquish the lease. A. SUIT Lease Number (or Minerals Agreement No.). B. Assignor's full name and address. C. Assignee's full name and address. D. Full and complete description ...An ORRI is a straight percentage. For example, a 2% override would appear on the royalty statement as 0.02 interest in the proceeds from the sale of the leased ... Assignor is entitled, through the assignments and agreement identified in Exhibit “A” hereto, to a portion of the overriding royalty interest transferred by the ... Jun 26, 2012 — ... a reservation in the assignment or transfer of an oil and gas lease. ... The overriding royalty interest reserved by Assignor in the leases ... The Assignor reserves an overriding royalty interest equal to the difference between 80.00% of 8/8th net revenue interest and any existing burdens. The intent ... This form is used by the Assignor to transfer, assign, and convey to Assignee all of Assignor's overriding royalty interest in a Lease and all oil, ... By assignment executed August 20, A conveys 50% of his overriding royalty interest to B, but the assignment is "made effective for all purposes as of August 15. BASIC OIL AND GAS FORMS PROGRAM · Declaration of Election to Convert Overriding Royalty Interest to a Working Interest · Declaration that Oil and Gas Lease was ... 18% and the aggregate of all landowner's royalty, overriding royalty and similar interests burdening the Leases recorded in the real property records as of ...

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Colorado Assignment and Conveyance of Overriding Royalty Interest