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This form is used by the Assignor to transfer, assign, and convey to Assignee an overriding royalty interest in a Lease and all oil, gas and other minerals produced, saved and sold from the Lease and Land.
Before assigning an overriding royalty interest, it's wise to consider the potential revenues, the lease's production history, and how the assignment aligns with your own financial goals.
Nope! The great thing about overriding royalty interests is that they are not affected by production costs – the owner just gets their cut after the oil or gas is sold.
Yes, just like any other property interest, an overriding royalty interest can be sold or transferred to another individual or entity, allowing them to benefit from its future revenues.
A stated percentage in royalty interest assignments indicates the exact portion of the proceeds that the overriding royalty owner will receive once the product is extracted and sold.
Having a single lease means that the rights and interests being discussed are linked to one specific piece of land or property where minerals or oil might be found.
A working interest owner can assign an overriding royalty interest by transferring a part of their rights to another party, which lets that new party enjoy a percentage of the revenue from that lease.
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Colorado Springs Colorado Assignment of Overriding Royalty Interest by Working Interest Owner, Single Lease, Stated Percentage