US Legal Forms
Localized Forms
New York
Queens
Assignment of Overriding Royalty Interest by Working Interest Owner...

Queens New York Assignment of Overriding Royalty Interest by Working Interest Owner, Single Lease, Stated Percentage

Name: Queens New York Assignment of Overriding Royalty Interest by Working Interest Owner, Single Lease, Stated Percentage
Brand: US Legal Forms
Rating: 4.75 (231 reviews)

Category:

Oil Gas and Minerals - Assignments

State:

Multi-State

County:

Queens

Control #:

US-OG-287

Format:

Instant download

Description

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.

Employment Agreement with Construction Worker

View this form

How to fill out Queens New York Assignment Of Overriding Royalty Interest By Working Interest Owner, Single Lease, Stated Percentage?

If you need to find a reliable legal document supplier to find the Queens Assignment of Overriding Royalty Interest by Working Interest Owner, Single Lease, Stated Percentage, look no further than US Legal Forms. Whether you need to start your LLC business or take care of your asset distribution, we got you covered. You don't need to be well-versed in in law to find and download the appropriate form.

You can browse from more than 85,000 forms arranged by state/county and situation.
The intuitive interface, number of learning materials, and dedicated support make it simple to locate and execute different paperwork.
US Legal Forms is a reliable service providing legal forms to millions of users since 1997.

Simply type to look for or browse Queens Assignment of Overriding Royalty Interest by Working Interest Owner, Single Lease, Stated Percentage, either by a keyword or by the state/county the form is intended for. After locating necessary form, you can log in and download it or save it in the My Forms tab.

Don't have an account? It's effortless to start! Simply find the Queens Assignment of Overriding Royalty Interest by Working Interest Owner, Single Lease, Stated Percentage template and take a look at the form's preview and short introductory information (if available). If you're comfortable with the template’s legalese, go ahead and click Buy now. Register an account and select a subscription option. The template will be immediately available for download once the payment is completed. Now you can execute the form.

Handling your law-related matters doesn’t have to be pricey or time-consuming. US Legal Forms is here to demonstrate it. Our extensive variety of legal forms makes this experience less costly and more reasonably priced. Create your first business, organize your advance care planning, draft a real estate agreement, or execute the Queens Assignment of Overriding Royalty Interest by Working Interest Owner, Single Lease, Stated Percentage - all from the convenience of your home.

Join US Legal Forms now!

Form Rating

4.75

Satisfied(231)

Form popularity

FAQ

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.

An overriding royalty interest (ORRI) is an undivided interest in a mineral lease giving the holder the right to a proportional share (receive revenue) of the sale of oil and gas produced. The ORRI is carved out of the working interest or lease.

Overriding royalty interests are an important financing tool for oil and gas companies involved in the exploration and development of oil gas and mineral interests. For investors, they provide an opportunity to participate in mineral production without incurring the costs.

You may convey overriding royalty interest on either an Assignment of Record Title Interest (Form 3000-3), a Transfer of Operating Rights (Form 3000-3a), or on a private assignment. We only require filing of one signed copy per assignment plus a nonrefundable filing fee found at 43 CFR 3000.12.

If a prepetition overriding royalty interest transaction is characterized as a transfer of real property (i.e., a sale), then the interest has effectively been transferred from the debtor's ownership and is not part of the bankruptcy estate.

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.

1. n. Oil and Gas Business Ownership in a percentage of production or production revenues, free of the cost of production, created by the lessee, company and/or working interest owner and paid by the lessee, company and/or working interest owner out of revenue from the well.

How Do Overriding Royalty Interest Payments Work? The value of an overriding royalty interest is simple to calculate since it is a percent of the working interest lease. The ORRI value is based on production on the acreage leased by the working interest.

Interesting Questions

More info

The Plaintiffs' overriding royalty interest ("ORRI"). Additional royalty payments due from other working interest owners as.

Queens New York Assignment of Overriding Royalty Interest by Working Interest Owner, Single Lease, Stated Percentage

Description

Related forms

Viewed forms

How to fill out Queens New York Assignment Of Overriding Royalty Interest By Working Interest Owner, Single Lease, Stated Percentage?

Show more info

Form Rating

Form popularity

FAQ

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

What is an assignment of overriding royalty interest?

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

What are overriding royalties typically used for?

How do you transfer overriding royalty interest?

Is an overriding royalty interest real property?

What does overriding royalty interest mean?

What is an overriding royalty interest?

How do you value overriding royalty interest?

Interesting Questions

What is the Assignment of Overriding Royalty Interest (ORRI) by Working Interest Owner on a Single Lease?

What does it mean to have a Stated Percentage in the Assignment of Overriding Royalty Interest?

Why would a working interest owner choose to assign an Overriding Royalty Interest?

What benefits does the working interest owner receive from assigning an Overriding Royalty Interest?

How does the party receiving the Overriding Royalty Interest benefit?

Can the Stated Percentage of the Overriding Royalty Interest change over time?

More info

Trusted and secure by over 3 million people of the world’s leading companies