The Colorado Assignment of Overriding Royalty Interest Limited As to Depth is a legal document used to transfer ownership rights of a limited portion of the overriding royalty interest (ORRIS) associated with oil and gas leases in the state of Colorado. This arrangement allows the assignor, the current owner of the ORRIS, to assign a certain depth range within the leased land to the assignee. Keywords: Colorado Assignment, Overriding Royalty Interest, Limited As to Depth, oil and gas leases Types of Colorado Assignment of Overriding Royalty Interest Limited As to Depth: 1. Conventional Assignment: This type of assignment deals with the transfer of overriding royalty interest limited to a specific depth range within a conventional oil and gas lease in Colorado. It allows the assignee to benefit from the production of oil or gas occurring within the designated depth range. 2. Horizontal Assignment: This type of assignment is specific to horizontal drilling operations, which have become increasingly common in Colorado's oil and gas industry. It transfers overriding royalty interest limited to a certain depth range within the horizontal well bore, allowing the assignee to receive royalty payments based on the production from that particular area. 3. Shallow Assignment: A shallow assignment refers to the transfer of overriding royalty interest limited to a shallow depth range within a lease. This type of assignment might be chosen when the assignor wants to retain the rights to deeper formations while assigning the shallower formations to the assignee. 4. Deep Assignment: Unlike the shallow assignment, a deep assignment involves the transfer of overriding royalty interest limited to deeper formations within the leased land. The assignor might opt for this type of assignment when they seek to retain the rights to the shallower formations but assign the deeper formations to another party. 5. Vertical Assignment: A vertical assignment specifies the transfer of overriding royalty interest limited to a vertical column of land rather than a particular depth range. The assignor designates a specific width of land, extending from the surface to the subsurface, allowing the assignee to benefit from the production within that vertical column. In conclusion, the Colorado Assignment of Overriding Royalty Interest Limited As to Depth is a legal document used to transfer ownership rights of a limited portion of the overriding royalty interest associated with oil and gas leases in Colorado. By using keywords like Colorado, Assignment, Overriding Royalty Interest, and Limited as to Depth, we can dive into the different types, such as conventional, horizontal, shallow, deep, and vertical assignments.
Colorado Assignment of Overriding Royalty Interest Limited As to Depth
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Overriding royalty interest: Unlike mineral and royalty interests, an overriding royalty interest runs with a lease and not with the land. Therefore, they only remain in effect for as long as a lease is in effect and they expire when a lease expires. Mineral Interest vs Royalty Interest | Texas Oil and Gas Lawyers lovell-law.net ? blog ? business-litigation lovell-law.net ? blog ? business-litigation
How to calculate the overriding royalty interest? ORRI = NRI * 5 percent. $750,000 * 0.005 = $3,750. What is Overriding Royalty Interest and How to Value it? pheasantenergy.com ? overriding-royalty-in... pheasantenergy.com ? overriding-royalty-in...
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 ... Form of Conveyance of Overriding Royalty Interest - SEC.gov sec.gov ? Archives ? edgar ? data ? dex43 sec.gov ? Archives ? edgar ? data ? dex43
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, ...
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.
There are three main types of royalty interests: Overriding royalty interest: Unlike mineral and royalty interests, an overriding royalty interest runs with a lease and not with the land. Therefore, they only remain in effect for as long as a lease is in effect and they expire when a lease expires.
What Determines the Value of an Overriding Royalty Interest? Mineral interest location. One in a shale basin with high production is worth more. Producing oil and gas wells. Wells currently producing are valued more. ... Production reserves and levels. ... Prices.
