A Guam Assignment of Overriding Royalty Interest Limited As to Depth is a legal agreement that involves the transfer of a predetermined percentage of the revenue derived from the extraction of minerals or hydrocarbons from a specific depth of a designated piece of land in Guam. This type of assignment serves as a means for landowners or mineral rights owners to receive a portion of the profits generated by the exploitation of resources found within a particular depth range. In Guam, there are multiple types of Assignment of Overriding Royalty Interest Limited As to Depth agreements, each having its own specifications and restrictions. Some common types include: 1. Oil and Gas Assignment of Overriding Royalty Interest Limited As to Depth: This type of agreement applies specifically to the extraction of oil and gas reserves from certain depths of a specific land tract in Guam. Landowners may opt to limit the depth to which their overriding royalty interest applies, ensuring they receive compensation only for resources extracted within their designated depth range. 2. Mineral Assignment of Overriding Royalty Interest Limited As to Depth: In this case, the agreement pertains to the extraction of various minerals, excluding oil and gas, from a specified depth range of a particular property in Guam. The assigned overriding royalty interest is applicable solely to those minerals extracted within the predetermined depth limits. 3. Multi-Resource Assignment of Overriding Royalty Interest Limited As to Depth: This type of assignment covers the extraction of multiple resources, including oil, gas, and various minerals, from a designated depth range. The overriding royalty interest is limited to the depth specified in the agreement, enabling the landowner to receive a percentage of revenue from the resources extracted within that specific depth interval. By utilizing a Guam Assignment of Overriding Royalty Interest Limited As to Depth, landowners can have more control over their mineral rights, choosing to secure compensation only for resources extracted from specific depths. This type of arrangement can be advantageous for both landowners and resource companies, as it clarifies the terms of the agreement and ensures fair compensation while optimizing the utilization of natural resources.
Guam Assignment of Overriding Royalty Interest Limited As to Depth
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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.
To calculate the NMA, you need the gross number of acres and the percentage of your mineral interest. To complete the calculation, simply multiply the gross acreage by your mineral interest. For example, if you owned 25% interest on the minerals under a 400-acre tract of land, you would have 100 NMA.
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.
NRA = 40.00 net mineral acres x ([1/5] Lease Royalty Rate / [1/8] Standard Royalty Rate) NRA = 40.00 x (0.20 / 0.125) NRA = 40.00 x 1.60 NRA = 64.00 Net Royalty Acres This mathematical concept can also be used inversely to calculate your net mineral acres in a parcel based on the Net Revenue Interest (NRI) you are ...
If there is an NPRI that exists, you would have to determine the # of net royalty acres by taking your royalty rate and subtracting the NPRI from it and then dividing by 12.5%.
How to calculate the overriding royalty interest? ORRI = NRI * 5 percent. $750,000 * 0.005 = $3,750.
How to calculate the overriding royalty interest? ORRI = NRI * 5 percent. $750,000 * 0.005 = $3,750.
Overriding Royalty Interest Example The mineral estate can be severed from the surface, beginning two separate chains of title. The mineral owner has the right to explore and develop the minerals, but the vast majority do not have the finances or knowledge to drill and operate a well.
