Overriding Royalty Interest definition

Overriding Royalty Interest means an interest in the oil and gas produced pursuant to a specified oil and gas lease or leases, or the proceeds from the sale thereof, carved out of the working interest, to be received free and clear of all costs of development, operation, or maintenance.

Overriding Royalty Interest means a royalty interest created or reserved from another (operating or non-operating) interest in oil and natural gas properties. Its term extends for the same term as the interest from which it is created.

Overriding Royalty Interest in each such portion of Exhibit A.

Examples of Overriding Royalty Interest in a sentence

• Overriding royalty interest shall mean a given percentage of the gross production at the surface carved out of the working interest.

• Overriding royalty interest owners are not obligated to share in these costs.” Rogers v.

• Overriding royalty interest owners are not obligated to share in these costs.” Garman v.Conoco, Inc., supra, 886 P.2d at 659.The supreme court did not define marketable condition in Garman, but it did so in Rogers by stating: “[T]he theory of the first- marketable product is helpful in guiding our definition of marketability, and what is meant by gas being in a marketable condition.

• Karena itu perlakuan apapun terhadap aspek-aspek tertentu dari teologi Yohanes harus sedikit diulang-ulang karena semua pokok pembicaraannya kembali kepada Kristus4.Demikian Halnya dengan perkataan “Akulah adalah” dalam injil Yohanes menunjukkan bahwa Yohanes sedang memfokuskan tulisannya mengenai siapakah Yesus itu.

• Overriding royalty interest The overriding royalty interest relates to the Group’s rights to a 28.5% overriding royalty interest in the gross production of oil and gas from the Awakino permit area (Petroleum Exploration Permit 38479) in New Zealand, under Loyz NZ.

More Definitions of Overriding Royalty Interest

Overriding Royalty Interest means the interests conveyed and assigned by the Assignment.

Overriding Royalty Interest means any interest in oil production, other than the base royalty interest, that does not participate in the cost associated with operating and producing oil from said lease;

Overriding Royalty Interest means an overriding royalty interest as created by each of the Recordable Conveyances delivered to Grantee pursuant to this Master Conveyance.

Overriding Royalty Interest with respect to any Prospect shall mean the applicable before-Payout and after-Payout percentages of Company's Working Interest in such Prospect as set forth above.

Overriding Royalty Interest means an overriding royalty interest calculated as an undivided percentage interest in and to the ORI Properties Subject Hydrocarbons entitling Grantee to receive, under certain circumstances described herein, a sum equal to the Overriding Royalty Interest Proceeds for any Payment Period for which Grantee is entitled to receive the Overriding Royalty Interest Proceeds. The Overriding Royalty Interest shall be free and clear of, and shall bear no burden or part of costs and expenses of exploration, drilling, testing, completing, development, production or operation, but shall bear its proportionate share of costs and expenses of gathering, handling, processing, treating, compression, transportation and marketing, and shall bear its proportionate share of ad valorem and production taxes.

Overriding Royalty Interest. “ORRI” or “ORI” (expressed as a decimal) means an interest in production which is free of any obligation for the expense of exploration, development and production, bearing only its pro rata share of severance, production and other similar taxes and, in instances where the document creating the overriding royalty interest so provides, costs associated with compression, dehydration, other treating or processing or transportation of production of oil, gas or other minerals relating to the marketing of such production.

Overriding Royalty Interest means an interest in oil free of the expense of production.