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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.
Omaha Nebraska Assignment of Overriding Royalty Interest by Working Interest Owner, Single Lease, Stated Percentage Related Searches
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Interesting Questions
It’s always smart to weigh the pros and cons. Think of it like sitting on a seesaw; you want to make sure it balances out nicely before jumping on!
Nope! Assigning an ORRI doesn’t change your ownership of the working interest. It’s like lending a book to a friend without taking it out of your own library.
The main risk is that production might not be as profitable as expected. It’s like betting on a horse; sometimes you win big, but other times, you might end up with nothing.
Absolutely! Just like multiple cooks can share the same kitchen, multiple ORRIs can be assigned on a single lease, but they must be clearly defined to avoid confusion.
Stated percentages refer to the specific amount of revenue from the oil or gas produced that will go to the ORRI holder. It’s like saying you’ll get a certain slice of the profits instead of keeping it all to yourself.
A working interest owner can assign an ORRI by signing an agreement to give a portion of their earnings to another party, while still keeping their rights to the lease. It’s like sharing your lunch with a friend while you still get to eat.