Agreement Governing Payment of Nonparticipating Royalty Under Segregated Tracts Covered by one Oil and Gas Lease: Fill out & sign online

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What is non-participating royalty?

A Non-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 expense-free, bearing no operational costs of production.

What does NPRI stand for?

Since the National Pollutant Release Inventory (NPRI) launched in 1993, the substance list and reporting requirements have continuously evolved.

What is a non-participating royalty interest owner?

What is an NPRI? A non-participating royalty interest owner has a right to all or a portion of the royalty from gross production, but does not have the right to execute a lease, receive a bonus or any delay rentals.

How do you calculate non-participating royalty interest?

The formula to calculate NPRI without proportionate share reduction is LRR RI = NPRI. As an example, reducing your revenue interest from 25% LRR results in 1/16 NPRI, leaving 75% NRI for working interest owners. The formula using proportionate reduction is LRR * RI = NPRI.

How is an NPRI created?

The NPRI is carved from the mineral estate and generally consists of the right to royalty under an oil and gas lease. This right to royalty burdens the lessors interest to the extent the lessors royalty under the lease is sufficient to cover the NPRI.

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What is a nonparticipating royalty?

A Non-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 expense-free, bearing no operational costs of production.

What is an assignment of oil and gas lease?

The lessee of an oil or gas lease can assign the entire lease or part of it. In other words, the lessee can sell or transfer part of the estate or the entire estate to which they have the working rights. The assignee is assigned the working interest and lease obligations, including override royalty.

How is NPRI calculated?

The formula to calculate NPRI without proportionate share reduction is LRR RI = NPRI. As an example, reducing your revenue interest from 25% LRR results in 1/16 NPRI, leaving 75% NRI for working interest owners. The formula using proportionate reduction is LRR * RI = NPRI.

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