A New Hampshire Assignment of Overriding Royalty Interest (No Proportionate Reduction) is a legal document that transfers the rights to receive royalties from an oil, gas, or mineral lease to another party in the state of New Hampshire. This type of assignment ensures that the assignee receives a fixed percentage of the gross production or revenue from the lease without any proportional reduction. In New Hampshire, there may be different types of Assignment of Overriding Royalty Interest (No Proportionate Reduction) based on specific conditions or terms agreed upon by both parties involved. Some common variations include: 1. New Hampshire Assignment of Overriding Royalty Interest (No Proportionate Reduction) in Oil Leases: This type of assignment relates specifically to the rights to overriding royalties from oil production leases. It typically outlines the percentage of the overriding royalty interest that is being assigned and any applicable terms and conditions. 2. New Hampshire Assignment of Overriding Royalty Interest (No Proportionate Reduction) in Gas Leases: Gas leases involve the extraction and production of natural gas. This specific assignment variation focuses on transferring the overriding royalty interest related to gas leases, specifying the assigned percentage and other relevant details. 3. New Hampshire Assignment of Overriding Royalty Interest (No Proportionate Reduction) in Mineral Leases: Mineral leases encompass various minerals, such as coal, gold, or silver. This type of assignment pertains to the overriding royalty interest associated with mineral leases and establishes the assigned percentage and any accompanying conditions. The primary purpose of a New Hampshire Assignment of Overriding Royalty Interest (No Proportionate Reduction) is to legally transfer the right to receive overriding royalties from an oil, gas, or mineral lease. The assignor, who is the current royalty interest owner, conveys their interest to the assignee, who becomes the new recipient of the royalty payment. By utilizing this specific type of assignment, both parties ensure that the assignee will receive a fixed percentage of the gross production or revenue generated from the lease without any proportionate reduction. This means that irrespective of any changes in the lease terms or production levels, the assignee will receive their predetermined share of the royalties. It is crucial to draft and execute a comprehensive and legally binding Assignment of Overriding Royalty Interest (No Proportionate Reduction) in New Hampshire to safeguard the interests of all parties involved and provide clarity on the assigned percentage and any additional terms or conditions. Consulting with legal professionals or experienced individuals in the field is advisable to ensure the accuracy and enforceability of the assignment document in accordance with applicable New Hampshire laws and regulations.
New Hampshire Assignment of Overriding Royalty Interest (No Proportionate Reduction)
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FAQ
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.
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.
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 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.
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.
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.
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.