Georgia Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal document that pertains to the transfer of the overriding royalty interest in a non-producing oil or gas lease in the state of Georgia. This assignment allows the assignor to convey their ownership rights and interests to the assignee, who will then become entitled to receive a portion of the gross proceeds arising from the production of hydrocarbons from the designated lease. Keywords: Georgia Assignment of Overriding Royalty Interest, Non-Producing, Single Lease, Reserves Right to Pool, Ownership Rights, Assignor, Assignee, Gross Proceeds, Hydrocarbons, Legal Document. Different types of Georgia Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) may include: 1. General Assignment of Overriding Royalty Interest: This type of assignment encompasses the transfer of an overriding royalty interest from a non-producing single lease to an assignee, while also reserving the right to pool the interest with other leases in the future. 2. Limited Assignment of Overriding Royalty Interest: This type of assignment restricts the transfer of overriding royalty interest to a specific portion or area of the non-producing lease, limiting the assignee's rights to only that certain section. 3. Reservations and Exceptions Assignment of Overriding Royalty Interest: This type of assignment may involve reserving certain specific rights or exceptions related to the overriding royalty interest being transferred, allowing the assignor to retain certain benefits or privileges associated with the lease. 4. Non-Participating Assignment of Overriding Royalty Interest: This type of assignment grants the assignee an overriding royalty interest without any right to participate in the decision-making or operational aspects of the leased property. The assignee solely benefits from the royalty proceeds without having any rights to lease operations or decision-making processes. Keywords: General Assignment, Limited Assignment, Reservations and Exceptions Assignment, Non-Participating Assignment, Leased Property, Decision-Making, Operational Aspects, Royalty Proceeds.
Georgia Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool)
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FAQ
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.
An overriding royalty interest (ORRI) is an undivided interest in a mineral lease giving the holder the right to a proportional share (receive revenue) of the sale of oil and gas produced. The ORRI is carved out of the working interest or lease.
An overriding royalty interest (ORRI) is an undivided interest in a mineral lease giving the holder the right to a proportional share (receive revenue) of the sale of oil and gas produced. The ORRI is carved out of the working interest or lease.
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.
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, ...
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.
Calculating Overriding Royalty Interest 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 hydrocarbons.
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.
