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Assignment of Overriding Royalty Interest (No Proportionate...

Montgomery Maryland Assignment of Overriding Royalty Interest (No Proportionate Reduction)

Name: Montgomery Maryland Assignment of Overriding Royalty Interest (No Proportionate Reduction)
Brand: US Legal Forms
Rating: 4.62 (347 reviews)

Category:

Oil Gas and Minerals - Assignments

State:

Multi-State

County:

Montgomery

Control #:

US-OG-939

Format:

Instant download

Description

This form is an assignment of overriding royalty interest with no proportionate reduction.

Commercial Lease Agreement for Land

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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.

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.

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.

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.

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.

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.

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.

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The Plaintiffs' overriding royalty interest ("ORRI"). H. Assignment and Maintenance of Uniform Interest.We are working toward completing the Sale as quickly as possible. Fill out the form to access a sample of Practical Guidance. Treat the transfer of the production payment to C as a carve out. (Justice O'Neil and Justice Guzman not sitting) 08-0528 The John G. and Marie Stella Kenedy Memorial Foundation v.

Montgomery Maryland Assignment of Overriding Royalty Interest (No Proportionate Reduction)

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