New Hampshire Assignment of Overriding Royalty Interests in Multiple Leases refers to a legal document that allows the transfer of overriding royalty interests from one party to another for multiple leases in the state of New Hampshire. This document is used when a party wishes to assign their rights to receive a portion of the revenues generated from oil, gas, or mineral production on leased properties. The process of assigning overriding royalty interests involves the transfer of a percentage or fraction of the royalty interest from the assignor to the assignee. This assignment can occur for multiple leases simultaneously, providing a comprehensive and consolidated approach to managing royalty interests in various leases across New Hampshire. Keywords: 1. Assignment of Overriding Royalty Interests: This term refers to the process of transferring one's rights to receive a portion of royalty revenues from oil, gas, or minerals from a leased property to another party. 2. Multiple Leases: This term highlights the fact that the assignment of overriding royalty interests can apply to multiple leases simultaneously, allowing for a more efficient management of royalty interests across various properties. 3. New Hampshire: This keyword emphasizes the jurisdiction in which the assignment is taking place, indicating that the document follows the laws and regulations of the state of New Hampshire. 4. Royalty Revenues: This term refers to the income generated from the production of oil, gas, or minerals on the leased properties, which is shared between the lessor and the overriding royalty interest holders. 5. Oil, Gas, and Minerals: These keywords signify the natural resources that are being extracted from the leased properties, resulting in the generation of revenue and the distribution of royalties among the oil and gas companies, lessors, and overriding royalty interest holders. Types of New Hampshire Assignment of Overriding Royalty Interests in Multiple Leases: 1. Full Assignment: This type involves the complete transfer of the overriding royalty interests from the assignor to the assignee for multiple leases. The assignee assumes all the rights and obligations associated with the overriding royalty interests. 2. Partial Assignment: This type involves the transfer of a fraction or a percentage of the overriding royalty interests from the assignor to the assignee for multiple leases. The assignee receives a proportional share of the royalty revenue generated from the leased properties.
New Hampshire Assignment of Overriding Royalty Interests for Multiple Leases
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Overriding Royalty Interest: A given interest severed out of the record title interest or lessee's share of the oil, and not charged with any of the cost or expense of developing or operation. The interest provides no control over the operations of the lease, only revenue from lease production.
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, ...
How to calculate the overriding royalty interest? ORRI = NRI * 5 percent. $750,000 * 0.005 = $3,750.
There are three main types of royalty interests: Overriding royalty interest: Unlike mineral and royalty interests, an overriding royalty interest runs with a lease and not with the land. Therefore, they only remain in effect for as long as a lease is in effect and they expire when a lease expires.
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.
If at any time Assignee desires to transfer or dispose of all or any portion of the Overriding Royalty Interest, Assignee must first give to Assignor written notice thereof stating: (a) the amount of the Overriding Royalty Interest offered by Assignee; (b) the form of consideration (which shall be either cash or a ...