US Legal Forms
Localized Forms
Texas
Travis
Stipulation Governing Payment of Nonparticipating Royalty Under...

Travis Texas Stipulation Governing Payment of Nonparticipating Royalty Under Segregated Tracts Covered by one Oil and Gas Lease

Name: Travis Texas Stipulation Governing Payment of Nonparticipating Royalty Under Segregated Tracts Covered by one Oil and Gas Lease
Brand: US Legal Forms
Rating: 4.82 (429 reviews)

Category:

Oil Gas and Minerals - Agreements

State:

Multi-State

County:

Travis

Control #:

US-OG-622

Format:

Instant download

Description

This form is used when the parties own nonparticipating royalty interests in various tracts of land. The Lease covers all of the lands owned by the parties. To resolve any question as to how royalty is to be paid to the parties in the event of production, under the lease, on any part of the lands, the parties are entering into this Stipulation to stipulate and agree to the ownership of each party's respective share of the royalty reserved in the lease.

Construction Contract for Residential Cons...

View this form

No-Fault Attendance Plan - Action Checklist

View this form

Employment Agreement of Belly Dance Instru...

View this form

Citation - Probate and Proof of Service

View this form

Guaranty of Promissory Note by Corporation...

View this form

Finance Lease of Equipment

View this form

How to fill out Travis Texas Stipulation Governing Payment Of Nonparticipating Royalty Under Segregated Tracts Covered By One Oil And Gas Lease?

Do you need to quickly draft a legally-binding Travis Stipulation Governing Payment of Nonparticipating Royalty Under Segregated Tracts Covered by one Oil and Gas Lease or probably any other document to manage your own or corporate matters? You can go with two options: contact a professional to draft a legal paper for you or create it completely on your own. Luckily, there's an alternative option - US Legal Forms. It will help you get neatly written legal documents without paying unreasonable fees for legal services.

US Legal Forms offers a rich catalog of over 85,000 state-specific document templates, including Travis Stipulation Governing Payment of Nonparticipating Royalty Under Segregated Tracts Covered by one Oil and Gas Lease and form packages. We offer templates for a myriad of life circumstances: from divorce paperwork to real estate documents. We've been on the market for more than 25 years and gained a rock-solid reputation among our customers. Here's how you can become one of them and obtain the necessary document without extra hassles.

To start with, double-check if the Travis Stipulation Governing Payment of Nonparticipating Royalty Under Segregated Tracts Covered by one Oil and Gas Lease is adapted to your state's or county's laws.
In case the form comes with a desciption, make sure to verify what it's intended for.
Start the search again if the document isn’t what you were looking for by utilizing the search box in the header.
Select the plan that best fits your needs and move forward to the payment.
Choose the file format you would like to get your form in and download it.
Print it out, fill it out, and sign on the dotted line.

If you've already registered an account, you can simply log in to it, find the Travis Stipulation Governing Payment of Nonparticipating Royalty Under Segregated Tracts Covered by one Oil and Gas Lease template, and download it. To re-download the form, just go to the My Forms tab.

It's stressless to buy and download legal forms if you use our services. In addition, the paperwork we offer are updated by law professionals, which gives you greater confidence when dealing with legal matters. Try US Legal Forms now and see for yourself!

Form Rating

4.82

Satisfied(429)

Form popularity

FAQ

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.

The royalty. It is typically expressed as a fraction or a percentage. For many years, almost all oil and gas leases reserved a 1/8th royalty. Today, the royalty fraction is negotiable, and is usually between 1/8th and 1/4th.

The owner of a nonparticipating royalty interest, like the owner of a nonparticipating nonexecutive mineral interest, does not have the right to enter into a lease of the minerals nor the right to enter upon the land for the purpose of exploring for or producing oil, natural gas, or other minerals.

Essentially, NPRI is the royalty severed from minerals just as minerals are severed from the surface interest. Unlike mineral owners, non-participating royalties do not have executive rights in lease negotiations, leasing incentives, or rental payments. They just receive the actual production proceeds.

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.

1. n. Oil and Gas Business Ownership in a share of production, paid to an owner who does not share in the right to explore or develop a lease, or receive bonus or rental payments. It is free of the cost of production, and is deducted from the royalty interest.

A mineral interest owner also possesses the right to receive lease bonuses, delay rental payments, shut-in payments and royalties. A royalty interest, on the other hand, is the property interest created that entitles the owner to receive a share of the production.

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.

Travis Texas Stipulation Governing Payment of Nonparticipating Royalty Under Segregated Tracts Covered by one Oil and Gas Lease

Description

Related forms

Viewed forms

How to fill out Travis Texas Stipulation Governing Payment Of Nonparticipating Royalty Under Segregated Tracts Covered By One Oil And Gas Lease?

Show more info

Form Rating

Form popularity

FAQ

What is non-participating royalty interest?

What is standard royalty on oil and gas lease?

What is a nonparticipating royalty interest?

What right is missing from nonparticipating royalties or nonparticipating mineral interests?

How is an NPRI created?

What is a royalty interest in oil and gas?

What is a nonparticipating royalty?

What is the difference between mineral interest and royalty interest?

What is an Orri?

Interesting Questions

What is the Travis Stipulation governing payment of nonparticipating royalty?

Which tracts are covered by the Travis Stipulation?

What is a nonparticipating royalty?

How are nonparticipating royalties calculated under the Travis Stipulation?

Does the Travis Stipulation cover all types of oil and gas leases?

Can the Travis Stipulation be modified?

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