HomeMy WebLinkAbout876069 ASSZGNMENT: OF:OVERRZDING ROYALTY ZNTERESTS JLt.t,~F~;' ~ ~,~,~.,'~ ",~r'",
In consideration of the sum of Te;n Dollars ($10.00) and other good and valuable consideration,
P~L EXPLOSION LLC, a W,/oming Limited Liabili~ Company, at P. O. Box 5083, Denver,
Colorado 80217~5083, herein.affe,~' called "Assignor",. does hereby assign, transfer and convey
the overriding royal~ interests a~.;. set fo~h below unto:
:.. If the total If the total
; lease burden' is lease burden is
18% ORR is:
ROSE EXPLOSION ASSOCIATES, LLC., 1.40625% of 8/Sths 2.8~25% of 8/Sths
A Colorado Limited Liabili~ Company
518 - 17th Street, Suite
Denver, CO 80202
P~ROTA LLC .1875% of 8/Sths .3750% of 8/Sths
P. O. Box 477
Williston, ND 58802
TOTAL ~.59375% of 8/8ths 3.1875% of 8/8ths
**Total lease burden depend on :'.~efore and a~er payout options of the Ballerina ~30-3 well
located in SW/4-3-T21N-Rll3W.
hereina~er called "Assignee" in a:'~d to all Oil, Gas and other minerals produced, saved and sold,
if, as and when produced, saved ~.~nd sold, but not othe~ise, from the lands set out and
covered by the Oil and Gas Leas~:~ described as follows, and any e~ensiOns or renewals
thereof, hereina~er called the "L~:.ase".
Lessor: {~. Union Pacific Land Resources Corporation
Lessee: ~t Texaco Exploration & Production ~nc.
, Date: i' May 18, 1998
Recording: Book 431, Page 342
~ Description~ Township 21 No~h, Range 113 West, 6t~ PM
Section 3:W/2
Lincoln Count, Wyoming
Said Overriding RoyalW ~nterests:shall also be assigned, transferred and conveyed as to the
interests earned by and be subject to all the terms and provisi'ons of that ce~ain..Farmout
Option Agreement dated 3uly 16,,:: ~997, and Farmout Agreement dated November 17, 1997, by
and be~een Union pacific Land [~esources Corporation and Petral Exploration LLC, hereinafter
called the "Farmout ~nterests".
Said Overriding R0yal~ ~nterestSshall be free and clear of all development, production,
marketing and operating expens~S; however, said interests shall bear and pay currently its
potion of gross production taxes, pipeline taxes, and all other taxes assessed against the gross
production subject to said Ovekridng Royal~ ~nterest. ~t is agreed that nothing herein
contained shall impose upOn the ~[~signor, its heirs successors, or assigns, any duty'or
obligation to develop or operate t:~e prope~ies covered by the described "Leases" in effe~ by
the payment of delay rentals, shaft-in royal~ payments or other similar payments.
~t is u, nderstood and agreed that ~':he Assignor shall have the right to pool the "Leases" and the
lands covered thereby, or any pat thereof, with other lands and leases into volunta~ uni~, or
into units as established by any g'.)vernmental authori~ having jurisdiction, and if said "Leases"
or any pa~ thereof are pooled aq.~::ordingly, then the Overriding Royal~ ~nterest herein
conveyed shall be reduced in the propo~ion that the acreage burdened by said Overriding
Royal~ Interest bears to all acre{:.'ge included in any such pooled unit.
~,.'
05]
If the "Leases" and "Farmout Tnti~rests" described herein cover a lesser interest in the oil, gas
and associated hydrocarbon subs:ances than the entire undivided fee simple estate and/or
mineral estate therein, the Overri.:Jing Royalty :Interests assigned herein under such "Leases"
and "Farmout :[nterests" as to th~.:¢lands described shall be reduced proportionately and shall be
payable only in the proportion wl-i'~ch the interests in the oil, gas and associated hydrocarbon
substances covered by said"
Lea.,~.. and "Farmout Tnterests" as to the lands described bears to
the entire and undivided fee. sim~:~ie estate. Tn addition, if the interest owned by Petrota LLC in
the "Leases" and '~Farmout Tnter~,";ts" described herein is less than the full and entire interest in
said "Leases" and "Farmout Inter ::sts, the Overriding Royalty Interest conveyed to Petral
Exploration LLC herein is also rec'iJced proportionately and is payable only in the proportion
which the interest owned by Petr~:}ta LLC in said "Leases" and "Farmout Tnterests" as to the
lands described bears to the full ~i:qd entire'interest in said "Leases" and "Farmout Interests" as
to the lands described.
This Assignment is made subject ':o those certain Agreements: Contractor Agreement, effective
November 1, 1993, as amended, ay and between Petral Exptoration, LLC, and Rose Exploration
Associates, LLC and The :[ndePen~':ent Contractor Agreement, effective February 9, 1~994, by and
between Petrota, LLC and Petral [~xp oration, LLC.
This Assignment of Overriding RC'..i,ialty ]~nterests is made without warranty of title, either
express or implied.
This Assignment shall be binding ,,Jpon and inure to the benefit of the respect parties hereto,
their heirs,, successors, representatives and assigns.
This Assignment of Overriding Roii.!alty Interests replaces that certain unrecorded and unfiled
previous Assignment of Overridinc_;: Royalty dated December :[st, :[999, has been misplaced and
assignment should not be construed to be additional interest and is not meant to be an
additional conveyance of interest.
IN WITNESS WHE~_EOF, the s~/:;ETRAL EXPLORATION LLC, as Assignor, executed this
instrument this ~¢/- day of ~,;~:~?~./'~ ,200~, but effective date of first production
PETRAL EXPLORATZON LLC.
Captiv~ Ij~lu.r~:~s, Inc., Manager
ny R. Mayer
i ACKNOWLEDGEMENT
STATE OF COLORADO )
)ss.,
COUNTY OF DENVER )
"~,'~-~/.'2.001,' before me personally
On this /._'5~ day of appeared Anthony R. Mayer, to
me personally known,-wh~, bein§: by me duly sworn, did say that he is the President of Captiva
Resources, :[nc., as Manager of P~ii. tral Exploration LLC, and that the seal affixed to said
instrument was signed and Seale¢~: on behalf of Captiva Resources, Inc., Manager of Petral
Exploration LLC and said Anthony R..Mayer acknowledged said instrument to be the free act
and deed of said corporation.
my hand and seal this _../-~ day of ~/,~,,Z ,,,2001.
W~'NESS
IVly commission3/9/05 expires:
S. L. Pacheco - Notary Public
P. O. Box 5083
Denver, CO 80217-5083