US Legal Forms
Localized Forms
California
Riverside
Assignment of Overriding Royalty Interest for Multiple Leases -...

Riverside California Assignment of Overriding Royalty Interest for Multiple Leases - Interest Assigned Is Difference Between Specified Percentage and Existing Leasehold Burdens

Name: Riverside California Assignment of Overriding Royalty Interest for Multiple Leases - Interest Assigned Is Difference Between Specified Percentage and Existing Leasehold Burdens
Brand: US Legal Forms
Rating: 4.65 (242 reviews)

Category:

Oil Gas and Minerals - Assignments

State:

Multi-State

County:

Riverside

Control #:

US-OG-291

Format:

Instant download

Description

This form is used by the Assignor to transfer, assign, and convey to Assignee an overriding royalty interest in multiple leases.

Special or Limited Power of Attorney for R...

View this form

Sponsorship Agreement for Race Car Team

View this form

How to fill out Riverside California Assignment Of Overriding Royalty Interest For Multiple Leases - Interest Assigned Is Difference Between Specified Percentage And Existing Leasehold Burdens?

Preparing paperwork for the business or individual demands is always a huge responsibility. When creating a contract, a public service request, or a power of attorney, it's essential to consider all federal and state laws of the particular area. Nevertheless, small counties and even cities also have legislative procedures that you need to consider. All these aspects make it tense and time-consuming to create Riverside Assignment of Overriding Royalty Interest for Multiple Leases - Interest Assigned Is Difference Between Specified Percentage and Existing Leasehold Burdens without professional assistance.

It's possible to avoid spending money on lawyers drafting your paperwork and create a legally valid Riverside Assignment of Overriding Royalty Interest for Multiple Leases - Interest Assigned Is Difference Between Specified Percentage and Existing Leasehold Burdens on your own, using the US Legal Forms online library. It is the greatest online catalog of state-specific legal templates that are professionally verified, so you can be certain of their validity when choosing a sample for your county. Earlier subscribed users only need to log in to their accounts to download the required form.

In case you still don't have a subscription, follow the step-by-step instruction below to get the Riverside Assignment of Overriding Royalty Interest for Multiple Leases - Interest Assigned Is Difference Between Specified Percentage and Existing Leasehold Burdens:

Look through the page you've opened and check if it has the sample you require.
To accomplish this, use the form description and preview if these options are available.
To find the one that suits your requirements, utilize the search tab in the page header.
Recheck that the template complies with juridical criteria and click Buy Now.
Opt for the subscription plan, then log in or register for an account with the US Legal Forms.
Utilize your credit card or PayPal account to pay for your subscription.
Download the selected document in the preferred format, print it, or fill it out electronically.

The great thing about the US Legal Forms library is that all the paperwork you've ever acquired never gets lost - you can access it in your profile within the My Forms tab at any time. Join the platform and easily obtain verified legal forms for any scenario with just a few clicks!

Form Rating

4.65

Satisfied(242)

Form popularity

FAQ

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.

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.

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.

A gross overriding royalty entitles the owner to a share of the market price of the mined product as at the time they are available to be taken less any costs incurred by the operator to bring the product to the point of sale.

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.

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.

Royalty Interest an ownership in production that bears no cost in production. Royalty interest owners receive their share of production revenue before the working interest owners. Working Interest an ownership in a well that bears 100% of the cost of production.

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.

More info

And leases ___. -. ---. Assignments of royalty; interests in oil and gas prospecting permits and leases prior to a discovery will not.

But the company needs to make up that revenue, and is required to pay royalties on any oil that can be found within 3,000 meters (about 9 miles) of their drilling locations. But the company also owns leases and interests in lands that fall outside that 3,000-meter radius, and those are subject to the company's existing leases and permits. In this case, the lease would have been for an area about 500 meters in diameter, but Exxon said that under its leases and permits, it would be limited to the areas that would “not significantly impact” the ability of the company to recover natural gas. In the case of the wells in Pennsylvania that had been identified, the company had to disclose what type of oil and gas it was actually drilling.

Disclaimer
The materials in this section are taken from public sources. We disclaim all representations or any warranties, express or implied, as to the accuracy, authenticity, reliability, accessibility, adequacy, or completeness of any data in this paragraph. Nevertheless, we make every effort to cite public sources deemed reliable and trustworthy.

Riverside California Assignment of Overriding Royalty Interest for Multiple Leases - Interest Assigned Is Difference Between Specified Percentage and Existing Leasehold Burdens

Description

Related forms

Viewed forms

How to fill out Riverside California Assignment Of Overriding Royalty Interest For Multiple Leases - Interest Assigned Is Difference Between Specified Percentage And Existing Leasehold Burdens?

Show more info

Form Rating

Form popularity

FAQ

What is an assignment of overriding royalty interest?

What is an overriding royalty interest?

Is an overriding royalty interest real property?

What is a gross overriding royalty?

How do you transfer overriding royalty interest?

What is royalty interest?

What is the difference between working interest and royalty interest?

What is a royalty interest?

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

More info

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