New York Assignment and Conveyance of Overriding Royalty Interest

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Multi-State
Control #:
US-OG-280
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Word; 
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This form is used by the Assignor to transfer, assign, and convey to Assignee all of Assignor's overriding royalty interest in a Lease and all oil, gas and other minerals produced, saved and sold from the Lease.
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FAQ

Overriding Royalty Interest: A given interest severed out of the record title interest or lessee's share of the oil, and not charged with any of the cost or expense of developing or operation. The interest provides no control over the operations of the lease, only revenue from lease production.

Overriding Royalty Interest Conveyance means an assignment, in form and substance acceptable to Lender, pursuant to which Borrower grants in favor of Lender an overriding royalty interest equal to six and one-fourth percent (6.25%) of Hydrocarbons produced, saved and sold or used off the premises of the relevant Lease, ...

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.

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.

If at any time Assignee desires to transfer or dispose of all or any portion of the Overriding Royalty Interest, Assignee must first give to Assignor written notice thereof stating: (a) the amount of the Overriding Royalty Interest offered by Assignee; (b) the form of consideration (which shall be either cash or a ...

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.

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.

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For and in consideration of good and valuable consideration paid by Assignee to Assignor, the receipt and sufficiency of which are hereby acknowledged, Assignor ... This form is used by the Assignor to transfer, assign, and convey to Assignee all of Assignor's overriding royalty interest in a Lease and all oil, ...Log in to the editor with your credentials or click on Create free account to evaluate the tool's functionality. Add the Assignment of Overriding Royalty ... Jun 16, 2023 — You may convey overriding royalty interest on either an Assignment of Record Title Interest (Form 3000-3), a Transfer of Operating Rights (Form ... Follow the instructions below to fill out Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the ... BASIC OIL AND GAS FORMS PROGRAM · Declaration of Election to Convert Overriding Royalty Interest to a Working Interest · Declaration that Oil and Gas Lease was ... Jun 26, 2012 — The overriding royalty interest reserved by Assignor in the leases subject to this assignment (the “subject leases”) shall apply to every ... The Plaintiffs took the position that the 1994 ORRI is not a true overriding royalty interest because the 1994 Assignment granted BWAB only an interest in ... Record Title: Primary ownership of an interest in an oil and gas lease including the obligation to pay rent, and the right to transfer and relinquish the lease. If a prepetition overriding royalty interest transaction is characterized as a transfer ... New York +1.212.326.3774 lmcmurray@jonesday.com. Jeffrey A. Schlegel

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New York Assignment and Conveyance of Overriding Royalty Interest