This provision provides for the assignor to except from this assignment and reserve an overriding royalty interest of all oil, gas, casinghead gas, and other minerals that may be produced from the lands under the terms of the Leases that are the subject of this assignment.
Nebraska Reservation of Overriding Royalty Interest
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FAQ
What Are Mineral Rights? Mineral rights are ownership rights that allow the owner the right to exploit minerals from underneath a property. The rights refer to solid and liquid minerals, such as gold and oil. Mineral rights can be separate from surface rights and are not always possessed by the property owner.
Nebraska also produces some natural gas, as well as significant amounts of cement, lime, sand, gravel, crushed stone, and clay.
8/8ths / 8/8ths Basis: a term used to describe either the full Working Interest or full Net Revenue Interest with respect to a given Tract. Pursuant to an Oil and Gas Lease, the Lessor retains the Lessor Royalty.
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.
Mineral Rights By State Alabama Mineral Rights. Arkansas Mineral Rights. California Mineral Rights. Colorado Mineral Rights. ... Louisiana Mineral Rights. Michigan Mineral Rights. Mississippi Mineral Rights. Montana Mineral Rights. ... Ohio Mineral Rights. Oklahoma Mineral Rights. Pennsylvania Mineral Rights. South Dakota Mineral Rights.
Currently, most of the producing mineral rights in Nebraska originate from the production of crude oil. There is very little production of natural gas in Nebraska.
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.
Nebraska is a major producer of construction sand and gravel and crushed stone, and also produces common clay, industrial sand and gravel, lime, and portland cement.