Kentucky Assignment of Overriding Royalty Interest Limited As to Depth is a legal document that pertains to the transfer of a non-participating royalty interest in an oil or gas lease. This agreement allows an individual or entity (the assignor) to assign a portion of their royalty interest to another party (the assignee) for a specific depth or interval. The Kentucky Assignment of Overriding Royalty Interest Limited As to Depth is particularly useful in oil and gas operations where multiple parties own different depth rights in a single lease. By using this type of assignment, the assignor can separate the royalty interest based on depth, ensuring that each party receives their respective share of income from the specific interval they own. This arrangement helps maintain clarity and prevents any confusion or disputes regarding royalty payments. It is important to note that there may be various types or variations of the Kentucky Assignment of Overriding Royalty Interest Limited As to Depth. Some common types include: 1. Partial Depth Assignment: This type of assignment transfers a portion of the assignor's royalty interest rather than the entire interest. It allows for a more focused transfer of rights to a specific depth or interval. 2. Interval-Specific Assignment: In this case, the assignment is limited to a specific geological interval within the lease. It ensures that the assignee receives royalties solely from the designated depth range. 3. Multi-Party Depth Assignment: This type of assignment involves multiple assignors and assignees. It allows for the division of royalty interests among multiple parties based on different depths or intervals. Overall, the Kentucky Assignment of Overriding Royalty Interest Limited As to Depth provides a mechanism for assigning and dividing royalty interests in oil and gas leases within specific depth ranges. It helps streamline ownership rights and ensures fair distribution of royalty income among the parties involved.
Kentucky Assignment of Overriding Royalty Interest Limited As to Depth
Description
How to fill out Kentucky Assignment Of Overriding Royalty Interest Limited As To Depth?
You can devote hours on the Internet looking for the legal document format that meets the federal and state demands you need. US Legal Forms offers 1000s of legal types which can be analyzed by pros. You can actually acquire or produce the Kentucky Assignment of Overriding Royalty Interest Limited As to Depth from our services.
If you already possess a US Legal Forms profile, you can log in and then click the Acquire switch. After that, you can total, change, produce, or sign the Kentucky Assignment of Overriding Royalty Interest Limited As to Depth. Each legal document format you buy is the one you have permanently. To obtain one more copy of the acquired develop, visit the My Forms tab and then click the related switch.
If you use the US Legal Forms web site initially, stick to the easy directions beneath:
- First, make certain you have chosen the best document format for your county/town of your liking. Browse the develop outline to make sure you have chosen the right develop. If offered, use the Review switch to look from the document format too.
- In order to discover one more version of your develop, use the Search area to find the format that meets your needs and demands.
- When you have identified the format you desire, click on Buy now to move forward.
- Pick the pricing strategy you desire, type in your references, and register for your account on US Legal Forms.
- Complete the transaction. You may use your bank card or PayPal profile to fund the legal develop.
- Pick the format of your document and acquire it for your gadget.
- Make modifications for your document if needed. You can total, change and sign and produce Kentucky Assignment of Overriding Royalty Interest Limited As to Depth.
Acquire and produce 1000s of document templates utilizing the US Legal Forms website, that offers the biggest variety of legal types. Use professional and condition-certain templates to deal with your organization or person requires.
Form popularity
FAQ
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
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...
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. Net Royalty Acres Defined - Oil and Gas Lawyer Blog oilandgaslawyerblog.com ? net-royalty-acre... oilandgaslawyerblog.com ? net-royalty-acre...
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. Non-Participating Royalty Interest (NPRI) Endeavor Energy Resources, LP ? 2019/07 Endeavor Energy Resources, LP ? 2019/07 PDF
Overriding Royalty Interests To calculate the ORRI, multiply the gross production revenue by the ORRI interest percentage, and the figure gotten is what the ORRI owner is entitled to. How to Calculate Oil and Gas Royalty Payments? - Pheasant Energy pheasantenergy.com ? how-to-calculate-oil-... pheasantenergy.com ? how-to-calculate-oil-...
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: 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
