The District of Columbia Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage refers to a legal document that outlines the transfer of a portion of the working interest owner's royalty interest to another party. This type of assignment is commonly utilized in the energy industry, particularly in oil and gas leases. The document specifies the percentage of the overriding royalty interest that is being assigned and includes relevant details about the lease and parties involved. In the District of Columbia, there are various types of Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage, including: 1. Voluntary Assignment: This type of assignment occurs when the working interest owner willingly transfers a portion of their overriding royalty interest to another party. The assignment is typically carried out in exchange for compensation or other considerations agreed upon by both parties. 2. Involuntary Assignment: In some cases, the assignment of overriding royalty interest may occur without the consent of the working interest owner. This type of assignment can happen in situations where the original lease agreement allows for such transfers or under certain legal circumstances. 3. Partial Assignment: A partial assignment involves the transfer of only a portion or percentage of the working interest owner's overriding royalty interest. This type of assignment allows the working interest owner to maintain a share of the royalty interest while benefiting from any potential income generated from the assigned percentage. 4. Complete Assignment: A complete assignment involves the transfer of the entire overriding royalty interest held by the working interest owner. In this case, the working interest owner relinquishes all rights and interests associated with the royalty interest to the assignee. The District of Columbia Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage provides a comprehensive framework for ensuring the legal transfer of royalty interests between parties involved in an oil and gas lease. The document must adhere to the specific requirements outlined by the District of Columbia laws and regulations governing such assignments. It is essential for all parties involved to carefully review and understand the terms and conditions of the assignment before executing the document to ensure proper compliance and protection of their respective interests.
District of Columbia Assignment of Overriding Royalty Interest by Working Interest Owner, Single Lease, Stated Percentage
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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.
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 Conveyance Definition - Law Insider Law Insider ? dictionary ? overriding... Law Insider ? dictionary ? overriding...
How to calculate the overriding royalty interest? ORRI = NRI * 5 percent. $750,000 * 0.005 = $3,750.
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. Information and Procedures for Transferring Overriding ... Bureau of Land Management (.gov) ? article ? Information-and-Proc... Bureau of Land Management (.gov) ? article ? Information-and-Proc...
Participating Royalty Interest (NPRI) is an interest in oil and gas production which is created from the mineral estate. Like the plain ?royalty interest? it is expensefree, bearing no operational costs of production. NonParticipating Royalty Interest (NPRI) Endeavor Energy Resources endeavorenergylp.com ? InterestDefinitions endeavorenergylp.com ? InterestDefinitions
Overriding Royalty Interest (ORRI) ORRIs are created out of the working interest in a property and do not affect mineral owners. An overriding royalty interest (ORRI) is often kept or assigned to a geologist, landman, brokerage, or any entity that was able to reserve an interest in the properties.
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 (ORRI) (US) - Westlaw Westlaw ? PracticalLaw Westlaw ? PracticalLaw
