Iowa Assignment of Overriding Royalty Interest Limited As to Depth is a legal document used to transfer ownership of a portion of the royalty interest in an oil, gas, or mineral lease. It is specifically limited to a certain depth or strata. This type of assignment is commonly used in the oil and gas industry when there are multiple parties involved in the exploration and production of natural resources. The assignment allows the assigning party to retain an overriding royalty interest in the lease but limits it to a certain depth, ensuring that the assignee only receives royalties from a designated portion of the lease. There are various types of Iowa Assignment of Overriding Royalty Interest Limited As to Depth, depending on the specific terms and conditions mentioned in the document. Some common variations include: 1. Iowa Assignment of Overriding Royalty Interest Limited As to Depth — Oil and Gas: This type of assignment pertains specifically to oil and gas leases, where the overriding royalty interest is limited to a predetermined depth or specific geologic strata relevant to the lease. 2. Iowa Assignment of Overriding Royalty Interest Limited As to Depth — Mineral Lease: This type of assignment applies to mineral leases, such as those involving coal, precious metals, or other valuable resources. The overriding royalty interest is limited to a particular depth or strata where these minerals are expected to be extracted. 3. Iowa Assignment of Overriding Royalty Interest Limited As to Depth — Horizontal Drilling: This variation is applicable when the exploration involves horizontal drilling techniques. The assignment limits the overriding royalty interest to a specific depth or horizontal stretch of the lease, considering the unique characteristics of horizontal drilling operations. 4. Iowa Assignment of Overriding Royalty Interest Limited As to Depth — Offshore Leases: This type of assignment is relevant for leases located in offshore areas. It ensures that the overriding royalty interest is limited to a certain depth or subsea stratum, reflecting the specific conditions and challenges associated with offshore drilling and production. In summary, an Iowa Assignment of Overriding Royalty Interest Limited As to Depth is a legal document used in the oil, gas, and mineral industry to transfer a portion of the royalty interest while restricting it to a particular depth or strata. The diversity of variations reflects the unique circumstances and requirements associated with different types of leases and drilling operations.
Iowa Assignment of Overriding Royalty Interest Limited As to Depth
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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. Transferring Oil and Gas Lease Interests Bureau of Land Management (.gov) ? Assignments Handout_6 Bureau of Land Management (.gov) ? Assignments Handout_6 PDF
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...
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.
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.
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 lawinsider.com ? dictionary ? overriding-ro... lawinsider.com ? dictionary ? overriding-ro...
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.com ? Glossary ? PracticalLaw westlaw.com ? Glossary ? PracticalLaw
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.
