What is a carry in oil and gas?

Carried Costs / Carry: a disproportionate funding arrangement used in oil and gas joint development programs whereby one party pays all or a portion of another party's Working Interest costs with respect to a particular Oil and Gas Property, whether for a set period of time or up to a set amount of Carried Costs.

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Assignment of Carried Working Interest

Fulton Georgia Assignment of Carried Working Interest

Name: Fulton Georgia Assignment of Carried Working Interest
Brand: US Legal Forms
Rating: 4.73 (341 reviews)

Category:

Oil Gas and Minerals - Assignments

State:

Multi-State

County:

Fulton

Control #:

US-OG-300

Format:

Instant download

Description

This form is used when the Assignor grants, sells, and conveys to Assignee the Carried Interest in an oil and gas lease.

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FAQ

Carried working interest (CWI) can be defined as an arrangement between two or more co-owners of a working interest in which one co-owner agrees to advance all or some of the development costs on behalf of the others.

Working Interest a percentage of ownership in a mineral lease granting its owner the right to explore, drill, and produce oil and gas from the leased property.

It is willing to drill the well(s) for you and pay the drilling costs (what is known as a drilling carry), in exchange for you assigning them a percentage of your working interest. Another way to think of it is obtaining drilling services where the consideration is an assignment of working interest rather than cash.

To calculate the net revenue interest, you deduct the royalty interests from the total amount generated from production. To calculate the net revenue of the working interest, you subtract the RI share from the total percentage of the working interest. Then multiply the remaining shares by the sum of the subtraction.

A working interest in an oil or gas property (i.e., an oil or gas well) is not a passive activity, if the taxpayer holds the interest directly or through an entity that does not limit the taxpayer's liability with respect to the drilling or operation of the well under that interest (e.g., a general partner interest in

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.

A working interest is a type of investment in oil and gas operations. In a working interest, investors are liable for ongoing costs associated with the project but also share in any profits of production. Both the costs and risks of a working interest are extremely high.

Carried Costs / Carry: a disproportionate funding arrangement used in oil and gas joint development programs whereby one party pays all or a portion of another party's Working Interest costs with respect to a particular Oil and Gas Property, whether for a set period of time or up to a set amount of Carried Costs.

The net revenue interest is the income, the working interest is the expenses.

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Fulton Georgia Assignment of Carried Working Interest

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