New Hampshire Affidavit As to Changes and Alterations Appearing in Oil and Gas Lease is a legal document that is used to testify and provide a detailed account of any modifications or amendments made to an existing oil and gas lease in the state of New Hampshire. This affidavit serves as an important piece of evidence in any legal proceedings related to the lease. The New Hampshire Affidavit As to Changes and Alterations Appearing in Oil and Gas Lease is primarily used to document any changes or alterations made to the original lease agreement, such as amendments, addendums, or revisions. It is essential to keep an accurate record of any modifications to the lease in order to maintain transparency and ensure compliance with legal requirements. The affidavit typically includes the following information: 1. Identifying Information: The affidavit will start by stating the full name, address, and contact details of the affine. The affine is the individual making the statement, and they will usually be someone with knowledge of the lease and its modifications. 2. Details of the Lease: The affidavit will provide a comprehensive description of the original oil and gas lease, including the parties involved, the effective dates, and any relevant legal descriptions of the leased premises. 3. Modifications and Alterations: The affine will then proceed to describe in detail each change or alteration made to the original lease. This may include amendments to royalty rates, lease term extensions, acreage additions or deletions, or any other significant modifications. 4. Signatures and Notarization: The affidavit will conclude with the affine's signature, along with the date and place of signing. It will also contain a notary acknowledgement, where a certified notary public verifies the affine's identity and presence during the signing. Different types of New Hampshire Affidavits As to Changes and Alterations Appearing in Oil and Gas Lease may exist based on their purpose or specific modifications being made to the lease. For example: 1. Amendment Affidavit: This affidavit is used when there are changes or alterations being made to the terms and conditions agreed upon in the original oil and gas lease. It serves as evidence for the new terms being introduced. 2. Extension Affidavit: This affidavit is used when there is a need to extend the lease term beyond its original expiration date. It documents the date of extension and any associated changes to the existing lease agreement. 3. Area Adjustment Affidavit: This affidavit is utilized when there are modifications to the acreage covered by the lease. It provides a detailed account of the changes made, including any land added or removed from the lease. By utilizing the New Hampshire Affidavit As to Changes and Alterations Appearing in Oil and Gas Lease, parties can ensure a clear and accurate record of any modifications made to the original lease agreement, thereby maintaining transparency and facilitating smooth legal proceedings.
New Hampshire Affidavit As to Changes and Alterations Appearing in Oil and Gas Lease
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FAQ
Calculating Overriding Royalty Interest An ORRI is a straight percentage. For example, a 2% override would appear on the royalty statement as 0.02 interest in the proceeds from the sale of the leased hydrocarbons.
Overriding royalty interest: Unlike mineral and royalty interests, an overriding royalty interest runs with a lease and not with the land. Therefore, they only remain in effect for as long as a lease is in effect and they expire when a lease expires.
How Do Overriding Royalty Interest Payments Work? The value of an overriding royalty interest is simple to calculate since it is a percent of the working interest lease. The ORRI value is based on production on the acreage leased by the working interest.
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.
An assignment of oil and gas lease is a contractual agreement between a landowner and an oil or gas company in which the company gains the right to explore for, develop, and produce oil and gas from the property.
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.
