South Carolina 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

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 similar to a royalty interest in that it is also a portion of the proceeds from the sale of production. However, it is not retained under the terms of the oil and gas lease. An ORRI is granted, assigned and created under the terms of a separate document. Overriding Royalty Interest Explained - Landgate landgate.com ? news ? overriding-royalty-in... landgate.com ? news ? overriding-royalty-in...

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.

What Determines the Value of an Overriding Royalty Interest? Mineral interest location. One in a shale basin with high production is worth more. Producing oil and gas wells. Wells currently producing are valued more. ... Production reserves and levels. ... Prices.

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. What is Overriding Royalty Interest and How to Value it? pheasantenergy.com ? overriding-royalty-in... pheasantenergy.com ? overriding-royalty-in...

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, ... Overriding Royalty Interest Conveyance Definition - Law Insider lawinsider.com ? dictionary ? overriding-ro... lawinsider.com ? dictionary ? overriding-ro...

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.

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Assignor is entitled, through the assignments and agreement identified in Exhibit “A” hereto, to a portion of the overriding royalty interest transferred by the ... 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, ...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 ... The overriding royalty reserved and retained by Assignor shall be payable to Assignor at the same time, and shall be computed in the same manner, as is provided ... Click on the New Document button above, then drag and drop the document to the upload area, import it from the cloud, or via a link. Adjust your document. (R) "Certificate of Clearance" means a permit prescribed by the department for the transportation or the delivery of oil or gas or product. (S) "Pollutant" ... An overriding royalty agreement is a contract that gives an entity the right to receive revenue from certain productions or sales. assign to him an overriding royalty interest equal to a specified fraction ... complete conveyance and assignment of the above described oil and gas lease ... 2. The Assignor reserves an overriding royalty interest equal to the difference between 80.00% of 8/8th net revenue interest and any ... ... THE CONVEYANCE OF OVERRIDING ROYALTY INTEREST DATED JUNE 29, 2001 PERMITTED ENCUMBRANCES HABANERO ... Assignment of Record Title Interest: Dated effective ...

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South Carolina Assignment and Conveyance of Overriding Royalty Interest