This form is used by the Owner to provide notice that the overriding royalty interests which are owned by Owners are to be merged into, combined with, and a part of Owners working interest, and the net revenue interest in production Owner is entitled to in all oil and gas produced from the Lands and Leases.
North Dakota Notice of Merger of Working and Overriding Royalty Interests is a legal document that signifies the consolidation or combining of working interests and overriding royalty interests in oil and gas leases in the state of North Dakota. This notice is typically filed with the relevant county or state regulatory authority and serves to notify all parties involved in the affected oil and gas leases about the merger of interests. The merger of working interests refers to the combining of ownership stakes or shares in an oil and gas lease. Working interests provide individuals or entities with the right to actively participate in the exploration, drilling, production, and operation of an oil and gas property. In contrast, overriding royalty interests represent a share of the revenues generated from the lease that is paid to certain parties, typically owners or lessors, as a royalty payment for granting access to their property. The North Dakota Notice of Merger of Working and Overriding Royalty Interests is a crucial legal document that ensures all parties involved, including operators, working interest owners, royalty interest owners, and lessors, are duly informed and have an accurate representation of their interests. It helps to facilitate the process of merging or consolidating ownership stakes and royalty interests and ensures proper documentation for accounting, revenue distribution, and regulatory compliance purposes. Key elements within the North Dakota Notice of Merger of Working and Overriding Royalty Interests may include: 1. Parties Involved: Names and contact information of all parties affected by the merger, such as working interest owners, overriding royalty interest owners, operators, and lessors. 2. Lease Details: A detailed description of the oil and gas lease, including the legal description of the property and lease identification numbers. 3. Merger Details: Clear information on the nature of the merger, whether it involves working interests, overriding royalty interests, or both, and the specific interests or shares being merged. 4. Effective Date: The date on which the merger becomes effective, legally binding all parties involved. 5. Assumption of Obligations: Any obligations, liabilities, or commitments associated with the merged interests that need to be assumed or transferred to the new merged entity. 6. Ratification and Authorization: Signatures and notarization of all parties involved, indicating their acceptance and authorization of the merger. 7. Filing and Recording: Instructions on how to file and record the notice with the appropriate regulatory authority or county office. Different types or variations of the North Dakota Notice of Merger of Working and Overriding Royalty Interests may arise depending on the specifics of the merger, such as whether it involves only working interests, only overriding royalty interests, or a combination of both. Additionally, the notice may differ in format or language depending on the county or regulatory authority where it is being filed. Overall, the North Dakota Notice of Merger of Working and Overriding Royalty Interests ensures transparency, clarity, and legal compliance in the consolidation of interests in oil and gas leases, benefiting all parties involved in the exploration and production of valuable energy resources.
