QUANTIFICATION OF OVERRIDING ROYALTY. [Clause 5.01] for crude oil, Alternate 1 will apply Alternate 1: 3% of gross monthly production; or Alternate 2: ___ (divisor); not less than __% and not more than __% for all other Petroleum Substances, Alternate 1 will apply Alternate 1: 3% of gross monthly production; or Alternate 2: if not taken in kind: ____% of gross monthly production; or if taken in kind ____% of gross monthly production
QUANTIFICATION OF OVERRIDING ROYALTY. If Royalty Owner does not take possession of and separately dispose of its share of Petroleum Substances, the Overriding Royalty shall be quantified and paid on the gross proceeds of the sale of such Petroleum Substances without any deductions, except the following, namely:
QUANTIFICATION OF OVERRIDING ROYALTY. (a) If Grantee does not take possession of and separately dispose of its share of Petroleum Substances, the Overriding Royalty shall be quantified and paid on the gross proceeds of the sale of such Petroleum Substances without any deduction, except the following:
QUANTIFICATION OF OVERRIDING ROYALTY. The Grantor hereby grants to the Owner a non-convertible absolutely gross overriding royalty, which shall comprise an interest in the Petroleum Substances within, upon and under the Lands. The gross volume of Petroleum Substances comprising the Overriding Royalty shall be quantified as follows:
QUANTIFICATION OF OVERRIDING ROYALTY. (Subclause 2.01 A) for crude oil -____ % for all other Petroleum Substances - Alternate______ will apply (Specify 1 or 2) ------ If Alternate 1 applies:____& If Alternate 2 applies:____ % in (i) and____ % in (ii)
QUANTIFICATION OF OVERRIDING ROYALTY. Having regard for the Royalty Determination Methodology, the Overriding Royalty shall be quantified as follows:
QUANTIFICATION OF OVERRIDING ROYALTY. (a) If Grantee does not take possession of and separately dispose of its share of Petroleum Substances, the Overriding Royalty shall be quantified and paid on the gross proceeds of the sale of such Petroleum Substances without any deduction, except the following: (i) with respect to Crude Oil and Condensate, a proportionate share of the actual costs of transportation to market connection where sales are not made f.o.b. the tanks serving the Wells; (ii) xith respect to Natural Gas and all other Petroleum Substances except Crude Oil and Condensate, a proportionate share of the cost of transportation, gathering and processing, provided:
QUANTIFICATION OF OVERRIDING ROYALTY. A. Effective as of the date and in the manner provided in the Head Agreement and this Farmout & Royalty Procedure, the Royalty Owner reserves the Overriding Royalty out of the interest earned by the Royalty Payor in the Royalty Lands. Subject to the other provisions of this Article, including the modified calculation under Subclause 5.02C for production of Petroleum Substances allocated to the Royalty Lands, the Overriding Royalty (based on a grant of a 100% Working Interest) will be determined on a well by well basis at the Royalty Determination Point, and will be as follows:
QUANTIFICATION OF OVERRIDING ROYALTY. (a) The Grantor hereby grants to the Royalty Owner an Overriding Royalty, which shall comprise an interest in the Petroleum Substances within, upon and under the Royalty Lands. The gross volume of Petroleum Substances comprising the Overriding Royalty shall be quantified as the following applicable percentage of the Current Market Value of the gross monthly production of Petroleum Substances from each well on the Royalty Lands in accordance with the following applicable Net Revenue Interest for such Royalty Lands: OVERRIDING ROYALTY PERCENTAGE IF THE NET REVENUE INTEREST IS: ----------------------------- ------------------------------- 3% Greater than 87.5% 2.5% 84% to 87.49%, inclusive 2.0% 81% to 83.99%, inclusive 1.5% Less than 81%
QUANTIFICATION OF OVERRIDING ROYALTY. (Clause 5.01)
