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HomeMy WebLinkAbout908059,9026 ASSIGNMENT OF OVERRIDING ROYALTY ANSBRO PETROLEUM COMPANY, LLC, Suite 2505, 555 17th' Street, Denver, Colorado 80202, hereinafter called Assignor, for and in consideration of the sum of Ten Dollars ($10.00) cash in hand paid and other good and valuable consideration, the receipt of which is hereby acknowledged, does hereby grant, sell, bargain, convey, transfer, assign and deliver unto the following named party the interest set out opposite his name, of all oil and/or gas produced, saved and sold from the oil and gas leasehold estates, with respect to the oil and gas leases and lands described on Exhibit "A" attached hereto and made a part hereof: Anschutz Exploration Corporation Royalty Pool 555 17th Street, Suite 2400 Denver, CO 80202 an undivided 1.5 of 1% of 8/8ths Pamela S. Kalstrom and Todd. R. Kalstrom, as Joint Tenants with Right of Survivorship 6732 West Princeton Place Denver, CO 80235 an undivided .3 of 1% of 8/8ths Hal B. Koerner, Jr. and Diane Lynn Koerner, as Joint Tenants with Right of Survivorship 6811 Hillridge Place Parker, CO 80134 an undivided .2 of 1% of 8/8ths Marguerite K. Timbel and Ned R. Timbel, asTenants in Common 6500 West Mansfield Avenue, #19 Lakewood, CO 80227 an undivided .2 of 1% of 8/8ths Anschutz Resources Corporation 555 17th Street, Suie 2400 Denver, CO 80202 an undivided .95 of 1% of 8/8ths William J. Miller and Nancy Miller, as Joint Tenants with Right of Survivorship 5233 West Capri Place Littleton, CO 80123 an undivided .3 of 1% of 8/8ths Scott L. Hajicek and Marilyn S. Hajicek, as Joint Tenants with the Right of Survivorship 2980 South Newcombe Way Denver, CO 80235 an undivided .25 of 1% of 8/Sths RECEIVED 5/2/2005 at 12:24 PM RECEIVING # 908059 BOOK: 584 PAGE: 261 JEANNE WAGNER LINCOLN COUNTY CLERK, KEMMERER, WY The overriding royalty interest hereinabove assigned is subject to the following terms, provisions and conditions: A. Said overriding royalty interest is subject to the terms and provisions of said leases described on Exhibit "A", and any amendments or modifications of said leases. B. Said overriding royalty interest shall be free and clear of all drilling, developing, operating costs and expenses except such costs, if any, incurred in dehydrating, treating, transporting, boosting, compressing or otherwise processing same in order to make same marketable, and same shall be calculated after deducting oil and gas used for operations on the premises, with the option on the part of Assignor to deduct the proportionate part of fuel used in any central plant serving the premises or of using other than the identica oil and gas produced for operations on the premises, and deducting any so used, but Assignee shall bear and pay al taxes of every nature whatever, which may now or hereafter be applicable to or in any manner connected with or a lien upon Assignee's overriding royalty interest or the production attributable thereto, including without limitation all production, severance, gathering, transportation or similar taxes attributable to Assignee's interest, and such other costs and charges as shall be applicable to and borne by lessor's royalties under the terms of the leases. If Assignor shall reinject gas produced under said leases or from land pooled therewith into injection wells situated on land covered by said Exhibit "A" leases or lands pooled therewith in connection with any recycling or pressure maintenance program, the quantity of gas produced under said leases or from land pooled therewith which is thus reinjected into said injection wells shall be deducted before the overriding royalties herein assigned are computed. No overriding royalties shall be payable upon gas and casinghead gas used for recycling or repressuring operations benefiting said lands. In the event the leases above described provide that shut-in gas payments shall be made as royalties rather than rentals, Assignee herein shall not be entitled to any payment with respect to said overriding royalty in connection with such payments. Except as may be otherwise provided in this assignment, the overriding royalty herein assigned shall be treated, computed, paid and/or de ivered to the Assignee in the same manner and under the same terms and conditions as are provided in each lease for the payment or delivery of royalties to the lessor therein. C. The overriding royalty may be pooled and unitized in the same manner and under the same and identical terms, Conditions and provisions as the lessor's royalties may be pooled and unitized under the terms of each lease above described. D. The overriding royalty herein assigned is based upon the assumption that the leases described on Exhibit "A" cover and affect the entire fee simple mineral estate in the lands covered thereby. In the event of loss or failure of title as to the whole or any portion of the leased premises, the overriding royalty interest as to such leases and lands affected by such loss or failure of title shall be reduced in the proportion in which title shall have failed, and in such event the overriding royalty interest herein assigned shall be proportionately reduced. If the lease described in Exhibit "A" attached hereto covers less than the entire and undivided fee simple estate therein, then and in such event the overriding royalty interest herein assigned shall be proportionately reduced. E. No obligations, either expressed or implied, shall arise by reason of the Assignment herein by Assignor of overriding royalty interest which shall obligate Assignor to keep, drill, produce, operate and maintain the said leases in force and effect either by the payment of rentals, compensatory royalties or other payments, or by the drilling of any wells upon the lands with respect which the overriding royalty interest in said leases is hereby assigned, it being expressly understood that Assignee is to receive said overriding royalty interest in such production only out of the oil, gas and other hydrocarbon substances and minerals, if, as and when produced, saved and marketed at the sole will of Assignor from said lands under the terms and provisions of each lease, and Assignor herein, his heirs, successors, assigns and/or legal representatives, may release said leases or any part thereof at will and without liability to Assignee, their heirs, successors, assigns and/or legal representatives. F. The overriding royalty interest herein assigned shall be applicable to any renewal, extension or new lease taken or acquired by Assignor, its sUccessors and assigns, within a period of six (6) months from date of the termination of any lease described in Exhibit "A" as to the. lands and minerals covered and affected by said new lease. This Assignment is made without covenants of warranty, either expressed or implied but shall be binding upon and inure to the benefit of the heirs, representatives, successors and assigns of the parties hereto. This instrument executed this 1st day of March 2005, effective December 18th, 2003. ANSBRO PETROLEUM COMPANY, LLC Eli~a'C}eth A. Brown, President STATE OF COLORADO) COUNTY OF DENVER ) The foregoing instrument was acknowledged before me this 1st day of March, 2005, by Elizabeth A. Brown, as President of ANSBRO PETROLEUM COMPANY, LLC on behalf of said Limited Liability Company. My Commission Expires: January 27, 2006 n0263 LLI W W b- Z 0 Z <(