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If you choose not to convert, you'll continue to receive your royalties without taking on the responsibilities and risks of being actively involved in the well's operations.
Think about your financial goals, your appetite for risk, and whether you want to be more involved in decisions about the project. It's often wise to consult with a professional.
Yes, there are risks; as a working interest owner, you'll be responsible for your share of the operational costs, which can sometimes be unpredictable.
Converting your interest can give you more control and possibly greater returns since you’ll be a part of the working interest in the project, which participates in both profits and expenses.
Converting an overriding royalty interest involves changing that specific share of the revenue into a working interest, allowing you to have a say in how the project is run and potentially yield more profit.
To elect to convert an interest means you have the option to change your ownership stake from one type to another, like from a royalty interest to a working interest in the project.