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Mineral Deed with Grantor Reserving Nonparticipating Royalty Interest

San Bernardino California Mineral Deed with Grantor Reserving Nonparticipating Royalty Interest

Name: San Bernardino California Mineral Deed with Grantor Reserving Nonparticipating Royalty Interest
Brand: US Legal Forms
Rating: 4.61 (381 reviews)

Category:

Oil Gas and Minerals - Deeds

State:

Multi-State

County:

San Bernardino

Control #:

US-OG-062

Format:

Instant download

Description

This form of deed conveys the grantee an undivided mineral interest, with the grantor reserving a nonparticipating royalty interest out of the interest conveyed.

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FAQ

Royalty interest in the oil and gas industry refers to ownership of a portion of a resource or the revenue it produces. A company or person that owns a royalty interest does not bear any operational costs needed to produce the resource, yet they still own a portion of the resource or revenue it produces.

What is an NPRI? A non-participating royalty interest owner has a right to all or a portion of the royalty from gross production, but does not have the right to execute a lease, receive a bonus or any delay rentals.

Royalty Interest ownership of a portion of the resource or revenue produced from the leased property. Typically, the owner of the leased property retains a royalty interest.

An overriding royalty interest (ORRI) is similar to a royalty interest in that it is also a portion of the proceeds from the sale of production. However, it is not retained under the terms of the oil and gas lease. An ORRI is granted, assigned and created under the terms of a separate document.

The formula to calculate NPRI without proportionate share reduction is LRR RI = NPRI. As an example, reducing your revenue interest from 25% LRR results in 1/16 NPRI, leaving 75% NRI for working interest owners.

Overriding Royalty Interest (ORRI) a percentage share of production, or the value derived from production, which is free of all costs of drilling and producing, and is created by the lessee or working interest owner and paid by the lessee or working interest owner.

Participating Royalty Interest (NPRI) is an interest in oil and gas production which is created from the mineral estate. Like the plain royalty interest it is expensefree, bearing no operational costs of production.

San Bernardino California Mineral Deed with Grantor Reserving Nonparticipating Royalty Interest

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What is royalty interest?

What is a non-participating interest?

What does royalty interest mean?

How does royalty interest work?

What is the difference between overriding royalty interest and royalty interest?

How do you calculate non-participating royalty interest?

What does overriding royalty interest mean?

What is a nonparticipating royalty interest?

Interesting Questions

What is a San Bernardino Mineral Deed?

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What are the advantages of a San Bernardino Mineral Deed with Grantor Reserving Nonparticipating Royalty Interest?

Can the grantor sell their nonparticipating royalty interest?

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