New Hampshire Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the Right to Pool In the state of New Hampshire, an Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the Right to Pool is a legal document that allows for the transfer of overriding royalty interests from one party to another. This assignment is specifically designed for situations where multiple leases exist, all of which are currently non-producing. Keywords: New Hampshire, Assignment, Overriding Royalty Interest, Multiple Leases, Non Producing, Reservation of the Right to Pool Overview: An Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the Right to Pool provides a mechanism for parties involved in oil, gas, or mineral leases to assign their overriding royalty interests to another party. This assignment comes into play when multiple leases exist, but none of them are currently producing. It allows for the consolidation and pooling of the leases to potentially increase the chances of the development and production of hydrocarbon resources. Types of New Hampshire Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the Right to Pool: 1. Standard Assignment: A standard Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the Right to Pool allows one party to transfer their overriding royalty interest to another party. This type of assignment is useful when a party wants to divest their interest in non-producing leases while retaining the right to participate in a future pooling arrangement. 2. Partial Assignment: In certain cases, a party may choose to assign only a portion of their overriding royalty interest. This type of partial assignment allows for flexibility and can be done to divest a specific interest in selected non-producing leases while maintaining control over others. 3. Assignment with Reserved Interest: An Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the Right to Pool can also include a reserved interest clause. This clause allows the assigning party to retain a specified percentage or fraction of the overriding royalty interest, even after the assignment is completed. This type of assignment is useful when a party wants to maintain some level of control or financial benefit from future production. 4. Income Interest Assignment: In some instances, the assignment can be structured to include an overriding royalty interest based on income instead of production. This means that the assigning party would receive a share of the income generated from the leases, regardless of whether they start producing oil, gas, or minerals. This type of assignment can provide a more immediate financial benefit to the assigning party. Conclusion: The New Hampshire Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the Right to Pool is a complex legal document that allows for the transfer of overriding royalty interests in non-producing leases while reserving the right to participate in future pooling arrangements. By utilizing different types of assignments, parties can customize their transactions according to their specific needs and objectives.
New Hampshire Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the Right to Pool
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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.
A gross overriding royalty entitles the owner to a share of the market price of the mined product as at the time they are available to be taken less any costs incurred by the operator to bring the product to the point of sale.
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.
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.
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.
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.
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.
Overriding Royalty Interest Conveyance means an assignment, in the form attached hereto as Exhibit F, pursuant to which Subsidiary Borrower grants to Lender a cost-free overriding royalty interest equal to a percentage determined pursuant to Section 8.5 of the Hydrocarbons and other minerals attributable to Subsidiary ...
