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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.
Las Vegas Nevada Assignment of Overriding Royalty Interest by Working Interest Owner, Single Lease, Stated Percentage Related Searches
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Interesting Questions
An ORRI can be a good investment, but like any investment, there are risks. It might rain profits, or it could be a drought; so do your homework before diving in!
If the lease changes hands, the overriding royalty interest typically stays in place, like a shadow that follows the lease wherever it goes.
You may generally assign your ORRI to anyone, but it’s wise to consult any agreements or laws that might set some limits, just to stay on the right side of things.
Before making an assignment, think about your long-term goals and whether you’re okay with giving up a piece of your profits. It’s important to weigh the pros and cons carefully.
A stated percentage refers to the specific fraction of revenue from production assigned to the ORRI in a single lease. It's like saying, ‘I’ll take this much of the earnings’.
Typically, a working interest owner can assign an overriding royalty interest to someone else. Think of it as passing the baton while still running the race.
An overriding royalty interest (ORRI) is a slice of the pie that allows the owner to get a percentage of the revenue from oil or gas produced, without having to worry about the costs of production.