ASSIGNMENT OF OVERRIDING ROYALTY (Multiple Assignees)
Exhibit 10.24
NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL PERSON, YOU MAY REMOVE OR STRIKE ANY OF THE FOLLOWING INFORMATION FROM THIS INSTRUMENT BEFORE IT IS FILED FOR RECORD IN THE PUBLIC RECORDS: YOUR SOCIAL SECURITY NUMBER OR YOUR DRIVERS LICENSE NUMBER.
ASSIGNMENT OF OVERRIDING ROYALTY
(Multiple Assignees)
THE STATE OF WYOMING | § | |||
§ | ||||
§ | KNOW ALL MEN BY THESE PRESENTS: | |||
§ | ||||
COUNTIES OF LARAMIE AND GOSHEN | § | |||
§ |
Energy & Exploration Partners, LLC whose address is P.O. Box 471428, Fort Worth, Texas 76147-1376, hereinafter called Assignor, for and inconsideration of the sum of TEN DOLLARS ($10.00) and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by Assignor, does by these presents, GRANT, ASSIGN, TRANSFER and CONVEY unto the parties set forth below, hereinafter called the Assignees:
Janice Boswell-Wueste, an individual, whose address is 2845 Manorwood Trl., Fort Worth, TX 76109;
Edward A. Wueste, an individual, whose address is 2845 Manorwood Trl., Fort Worth, TX 76109;
Matthew Ledbetter, an individual, whose address is 5309 Judalon Ln., Houston, TX 77056;
Amber Boswell, an individual, whose address is 2721 Manorwood Trl., Fort Worth, TX 76109; and
Jason Roberts, an individual, whose address is 3005 Amherst Ave., Dallas, TX 75225.
an overriding royalty interest (the Overriding Royalty), as described in Exhibit A attached hereto and made a part hereof for all purposes, in all oil, gas and other hydrocarbons produced, save and sold under the terms of the Oil and Gas Leases described in Exhibit A (the Lease(s)) covering the lands described therein located in Laramie and Goshen Counties, Wyoming.
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The assignment of Overriding Royalty made herein is subject to the following terms, conditions and provisions:
1. | For the purposes of calculating royalty payments, expenses and deductions, the Overriding Royalty shall be subject to the exact terms, conditions and provisions as those found in the Leases, on a lease by lease basis. In other words, should the underlying or referenced lease provide for cost free royalty then the Overriding Royalty shall also be free and clear of all cost and expenses of exploration, production, transportation and marketing, but shall bear its proportionate share of all gross production, severance, ad valorem and similar taxes. However, should the underlying referenced lease, on a lease by lease basis, be subject to deductions for transportation, dehydration and marketing then the Overriding Royalty shall also be subject to the same deductions and proportionate share of all gross production, severance, ad valorem and similar taxes. |
2. | If any of the Leases cover less than the full (100% of 8/8ths) interest in oil, gas and other minerals in all or any part of the lands and depths described therein, the Overriding Royalty shall be proportionately reduced and paid to Assignee in the proportion that the interest covered by said Lease bears to the entire mineral estate; |
3. | Assignor may, without the joinder of Assignee, pool and combine Assignees Overriding Royalty with other leases and lands in compliance with terms and conditions of the Leases. |
4. | The Overriding Royalty shall attach to any extension or renewals of the Leases and shall be calculated and paid in the same manner as the original reservation set forth herein. Any lease acquired by Assignor, or its successors or assigns, within one (1) year of the termination of the Leases shall be deemed an extension or renewal lease for the purposes of this provision insofar as the renewal or extension lease covers acreage transferred hereunder. |
TO HAVE AND TO HOLD the above described overriding royalty, together with all and singular the rights and appurtenances thereunto in anywise belonging unto Assignee, its successors and assigns forever; and Assignor does by these presents bind itself and its successors and assigns to warrant and forever defend all and singular, the Leases unto Assignee, its successors and assigns, against every person whomsoever lawfully claiming or to claim the same or any part thereof by, through or under Assignor, but not otherwise.
[Signature page follows.]
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IN WITNESS WHEREOF, the parties have executed this instrument as of the dates set forth in the acknowledgement certificates below, but it is effective as of the date of each Lease.
ASSIGNOR | ||
ENERGY & EXPLORATION PARTNERS, LLC, a Delaware limited liability company | ||
By: | /s/ Hunt Pettit | |
Hunt Pettit, President |
~ACKNOWLEDGEMENT~
STATE OF TEXAS
COUNTY OF TARRANT
The foregoing instrument was acknowledged before me on this 20 of August, 2012 by Hunt Pettit, President of Energy & Exploration Partners, LLC, a Delaware limited liability company, on behalf of said company.
[SEAL] | /s/ Carey C. Hewitt | |||||
Notary Public in and for the State of Texas |
[Remainder of page intentionally left blank]
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EXHIBIT A
Assignee ORRI | ||||||||||||||||||||||||||||||||
STATE | COUNTY | LESSOR | LESSEE (1) | RECORDING DATE | VOLUME | PAGE | Janice Boswell | Edward A. Wueste | Matthew F. Ledbetter | Amber Boswell | Jason Roberts | |||||||||||||||||||||
WY | Goshen | Ronald L. & Helga E. Cook | ENEXP | 1/31/2011 | 810 | 16 | 0.008971 | % | 0.001794 | % | 0.008971 | % | 0.038039 | % | 0.026914 | % | ||||||||||||||||
WY | Goshen | TNT Farms, Inc. c/o Debra Wilson | ENEXP | 1/31/2011 | 810 | 15 | 0.008971 | % | 0.001794 | % | 0.008971 | % | 0.038039 | % | 0.026914 | % | ||||||||||||||||
WY | Goshen | Robert S. & Christi L. Shields | ENEXP | 3/31/2011 | 813 | 114 | 0.013457 | % | 0.002691 | % | 0.013457 | % | 0.057058 | % | 0.040371 | % | ||||||||||||||||
WY | Goshen | Timothy Rex & Kathleen Trumball | ENEXP | 2/22/2011 | 811 | 117 | 0.013457 | % | 0.002691 | % | 0.013457 | % | 0.057058 | % | 0.040371 | % | ||||||||||||||||
WY | Goshen | Donald L. & Barbara R. Hill | ENEXP | 6/20/2011 | 818 | 142 | 0.013457 | % | 0.002691 | % | 0.013457 | % | 0.057058 | % | 0.040371 | % | ||||||||||||||||
WY | Goshen | Susan K. Bryant | ENEXP | 3/29/2011 | 813 | 93 | 0.008971 | % | 0.001794 | % | 0.008971 | % | 0.038039 | % | 0.026914 | % | ||||||||||||||||
WY | Goshen | Patricia Cooper | ENEXP | 3/29/2011 | 813 | 92 | 0.008971 | % | 0.001794 | % | 0.008971 | % | 0.038039 | % | 0.026914 | % | ||||||||||||||||
WY | Goshen | Elizabeth Jane Newell | ENEXP | 3/29/2011 | 813 | 94 | 0.008971 | % | 0.001794 | % | 0.008971 | % | 0.038039 | % | 0.026914 | % | ||||||||||||||||
WY | Goshen | Rachel M. Schreiner Trust | ENEXP | 6/20/2011 | 818 | 143 | 0.013457 | % | 0.002691 | % | 0.013457 | % | 0.057058 | % | 0.040371 | % | ||||||||||||||||
WY | Goshen | State of Wyoming #10-00728 | ENEXP | 3/29/2011 | 813 | 91 | 0.005981 | % | 0.001196 | % | 0.005981 | % | 0.025359 | % | 0.017943 | % | ||||||||||||||||
WY | Goshen | Bureau of Land Management #179686 | ENEXP | 3/29/2011 | 813 | 88 | 0.013457 | % | 0.002691 | % | 0.013457 | % | 0.057058 | % | 0.040371 | % | ||||||||||||||||
WY | Goshen | Bureau of Land Management #179691 | ENEXP | 3/29/2011 | 813 | 89 | 0.013457 | % | 0.002691 | % | 0.013457 | % | 0.057058 | % | 0.040371 | % | ||||||||||||||||
WY | Goshen | Bureau of Land Management #179692 | ENEXP | 3/29/2011 | 813 | 90 | 0.013457 | % | 0.002691 | % | 0.013457 | % | 0.057058 | % | 0.040371 | % | ||||||||||||||||
WY | Goshen | Bureau of Land Management #179694 | ENEXP | 6/22/2011 | 818 | 158 | 0.013457 | % | 0.002691 | % | 0.013457 | % | 0.057058 | % | 0.040371 | % | ||||||||||||||||
WY | Goshen | Gene & Karen Wolfe | ENEXP | 2/22/2011 | 811 | 114 | 0.013457 | % | 0.002691 | % | 0.013457 | % | 0.057058 | % | 0.040371 | % | ||||||||||||||||
WY | Goshen | Rodney & Robbin Nipper | ENEXP | 2/22/2011 | 811 | 115 | 0.013457 | % | 0.002691 | % | 0.013457 | % | 0.057058 | % | 0.040371 | % | ||||||||||||||||
WY | Goshen | Richard & Laura Young | ENEXP | 2/22/2011 | 811 | 116 | 0.004486 | % | 0.000897 | % | 0.004486 | % | 0.019019 | % | 0.013457 | % | ||||||||||||||||
WY | Goshen | Bob and Mary Sue Van Newkirk | ENEXP | 3/31/2011 | 813 | 113 | 0.013457 | % | 0.002691 | % | 0.013457 | % | 0.057058 | % | 0.040371 | % | ||||||||||||||||
WY | Goshen | Brent and Cindy Medford | ENEXP | 4/13/2011 | 814 | 122 | 0.005981 | % | 0.001196 | % | 0.005981 | % | 0.025359 | % | 0.017943 | % | ||||||||||||||||
WY | Goshen | Terry & Julianne Rogers | ENEXP | 10/24/2011 | 824 | 66 | 0.007177 | % | 0.001435 | % | 0.007177 | % | 0.030431 | % | 0.021531 | % | ||||||||||||||||
WY | Goshen | Joel & Marilyn Miskimins | ENEXP | 3/31/2011 | 813 | 112 | 0.002243 | % | 0.000449 | % | 0.002243 | % | 0.009510 | % | 0.006729 | % | ||||||||||||||||
WY | Goshen | Gwendolyn B. Miskimins | ENEXP | 3/31/2011 | 813 | 111 | 0.002243 | % | 0.000449 | % | 0.002243 | % | 0.009510 | % | 0.006729 | % |
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EXHIBIT A
STATE | COUNTY | LESSOR | LESSEE (1) | RECORDING DATE | VOLUME | PAGE | Janice Boswell | Edward A. Wueste | Matthew F. Ledbetter | Amber Boswell | Jason Roberts | |||||||||||||||||||||
WY | Goshen | Susan L. Sorrick | ENEXP | 3/29/2011 | 813 | 95 | 0.002243 | % | 0.000449 | % | 0.002243 | % | 0.009510 | % | 0.006729 | % | ||||||||||||||||
WY | Goshen | Joan F. Beien | ENEXP | 3/21/2011 | 812 | 199 | 0.013457 | % | 0.002691 | % | 0.013457 | % | 0.057058 | % | 0.040371 | % | ||||||||||||||||
WY | Goshen | Roland I. Schwindt | ENEXP | 5/20/2011 | 816 | 204 | 0.002243 | % | 0.000449 | % | 0.002243 | % | 0.009510 | % | 0.006729 | % | ||||||||||||||||
WY | Goshen | Theodore & Georgia Whitaker | ENEXP | 9/20/2011 | 822 | 195 | 0.013457 | % | 0.002691 | % | 0.013457 | % | 0.057058 | % | 0.040371 | % | ||||||||||||||||
WY | Goshen | Rodney & Lori Weyrich | ENEXP | 5/17/2011 | 816 | 165 | 0.002243 | % | 0.000449 | % | 0.002243 | % | 0.009510 | % | 0.006729 | % | ||||||||||||||||
WY | Goshen | James Allan Johnston | ENEXP | 7/5/2011 | 819 | 65 | 0.010766 | % | 0.002153 | % | 0.010766 | % | 0.045647 | % | 0.032297 | % | ||||||||||||||||
WY | Goshen | St. Josephs Childrens Home | ENEXP | 5/2/2011 | 815 | 160 | 0.005981 | % | 0.001196 | % | 0.005981 | % | 0.025359 | % | 0.017943 | % | ||||||||||||||||
WY | Goshen | Dudley D. Hatterman | ENEXP | 4/20/2011 | 815 | 76 | 0.002243 | % | 0.000449 | % | 0.002243 | % | 0.009510 | % | 0.006729 | % | ||||||||||||||||
WY | Goshen | Tom A. & Verna R. Scott | ENEXP | 7/5/2011 | 819 | 66 | 0.002243 | % | 0.000449 | % | 0.002243 | % | 0.009510 | % | 0.006729 | % | ||||||||||||||||
WY | Goshen | Steven N. Smith & Marion N. Smith, Trustees | ENEXP | 6/20/2011 | 818 | 141 | 0.005981 | % | 0.001196 | % | 0.005981 | % | 0.025359 | % | 0.017943 | % | ||||||||||||||||
WY | Goshen | Steven G. Shaddock | ENEXP | 6/21/2011 | 818 | 147 | 0.013457 | % | 0.002691 | % | 0.013457 | % | 0.057058 | % | 0.040371 | % | ||||||||||||||||
WY | Goshen | George G. Vaught, Jr. | ENEXP | 6/21/2011 | 818 | 148 | 0.013457 | % | 0.002691 | % | 0.013457 | % | 0.057058 | % | 0.040371 | % | ||||||||||||||||
WY | Goshen | McCulliss Resources Co. | ENEXP | 6/21/2011 | 818 | 149 | 0.013457 | % | 0.002691 | % | 0.013457 | % | 0.057058 | % | 0.040371 | % | ||||||||||||||||
WY | Goshen | Brent C. Kaufman | ENEXP | 11/8/2011 | 825 | 97 | 0.002243 | % | 0.000449 | % | 0.002243 | % | 0.009510 | % | 0.006729 | % | ||||||||||||||||
WY | Goshen | John L. & Donna R. Bath | ENEXP | 12/9/2011 | 826 | 149 | 0.002243 | % | 0.000449 | % | 0.002243 | % | 0.009510 | % | 0.006729 | % | ||||||||||||||||
WY | Goshen | Fred L. & Delores Reichert | ENEXP | 7/18/2011 | 819 | 188 | 0.013457 | % | 0.002691 | % | 0.013457 | % | 0.057058 | % | 0.040371 | % | ||||||||||||||||
WY | Goshen | Larry L. & Deidre Anderson | ENEXP | 6/20/2011 | 818 | 140 | 0.013457 | % | 0.002691 | % | 0.013457 | % | 0.057058 | % | 0.040371 | % | ||||||||||||||||
WY | Goshen | Travis Evans | ENEXP | 7/11/2011 | 819 | 134 | 0.013457 | % | 0.002691 | % | 0.013457 | % | 0.057058 | % | 0.040371 | % | ||||||||||||||||
WY | Goshen | John D. Somsen, Jr. | ENEXP | 6/1/2011 | 817 | 129 | 0.005981 | % | 0.001196 | % | 0.005981 | % | 0.025359 | % | 0.017943 | % | ||||||||||||||||
WY | Goshen | John W. & Rosanna Harris | ENEXP | 8/8/2011 | 820 | 169 | 0.002243 | % | 0.000449 | % | 0.002243 | % | 0.009510 | % | 0.006729 | % | ||||||||||||||||
WY | Goshen | Gary L. Sims, Iris K. Sims | ENEXP | 8/16/2011 | 821 | 69 | 0.002243 | % | 0.000449 | % | 0.002243 | % | 0.009510 | % | 0.006729 | % |
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EXHIBIT A
STATE | COUNTY | LESSOR | LESSEE (1) | RECORDING DATE | VOLUME | PAGE | Janice Boswell | Edward A. Wueste | Matthew F. Ledbetter | Amber Boswell | Jason Roberts | |||||||||||||||||||||
WY | Goshen | Gerald A. Stephenson and Mary Ann Stephenson Family Living Trust, Gerald A. Stephenson, Trustee | ENEXP | 6/27/2011 | 819 | 6 | 0.013457 | % | 0.002691 | % | 0.013457 | % | 0.057058 | % | 0.040371 | % | ||||||||||||||||
WY | Goshen | Mary Ann Stephenson | ENEXP | 6/27/2011 | 819 | 5 | 0.013457 | % | 0.002691 | % | 0.013457 | % | 0.057058 | % | 0.040371 | % | ||||||||||||||||
WY | Goshen | Town of Yoder | ENEXP | 1/4/2012 | 828 | 61 | 0.007177 | % | 0.001435 | % | 0.007177 | % | 0.030431 | % | 0.021531 | % | ||||||||||||||||
WY | Laramie | Dale & Darlene Bowman | ENEXP | 1/10/2011 | 2202 | 1122 | 0.013457 | % | 0.002691 | % | 0.013457 | % | 0.057058 | % | 0.040371 | % | ||||||||||||||||
WY | Laramie | Robert T & Genevieve G. Scott | ENEXP | 12/14/2010 | 2198 | 635 | 0.003589 | % | 0.000718 | % | 0.003589 | % | 0.015216 | % | 0.010766 | % | ||||||||||||||||
WY | Laramie | State of Wyoming #10-00725 | ENEXP | 5/11/2011 | 2219 | 1132 | 0.005981 | % | 0.001196 | % | 0.005981 | % | 0.025359 | % | 0.017943 | % | ||||||||||||||||
WY | Laramie | State of Wyoming #10-00726 | ENEXP | 5/11/2011 | 2219 | 1136 | 0.005981 | % | 0.001196 | % | 0.005981 | % | 0.025359 | % | 0.017943 | % | ||||||||||||||||
WY | Laramie | State of Wyoming #10-00727 | ENEXP | 5/11/2011 | 2219 | 1134 | 0.005981 | % | 0.001196 | % | 0.005981 | % | 0.025359 | % | 0.017943 | % | ||||||||||||||||
WY | Laramie | Bureau of Land Management #179752 | ENEXP | 5/11/2011 | 2219 | 1128 | 0.013457 | % | 0.002691 | % | 0.013457 | % | 0.057058 | % | 0.040371 | % | ||||||||||||||||
WY | Laramie | B. Clinton & Shari L. Farrar | ENEXP | 2/3/2011 | 2206 | 913 | 0.013457 | % | 0.002691 | % | 0.013457 | % | 0.057058 | % | 0.040371 | % | ||||||||||||||||
WY | Laramie | Marilyn E. Luman and Merril J. Luman | ENEXP | 2/23/2011 | 2208 | 1504 | 0.013457 | % | 0.002691 | % | 0.013457 | % | 0.057058 | % | 0.040371 | % | ||||||||||||||||
WY | Laramie | Butler Farms | ENEXP | 5/27/2011 | 2221 | 1134 | 0.013457 | % | 0.002691 | % | 0.013457 | % | 0.057058 | % | 0.040371 | % | ||||||||||||||||
WY | Laramie | Jody Lynn Clark (aka Jody Lynn Cole)(Addl per Laycock Duhig) | ENEXP | 6/1/2011 | 2222 | 162 | 0.013457 | % | 0.002691 | % | 0.013457 | % | 0.057058 | % | 0.040371 | % | ||||||||||||||||
WY | Laramie | Janet Stahla | ENEXP | TBD | TBD | TBD | 0.013457 | % | 0.002691 | % | 0.013457 | % | 0.057058 | % | 0.040371 | % | ||||||||||||||||
WY | Laramie | Bonnie J. Kester | ENEXP | 11/21/2011 | 2246 | 470 | 0.002243 | % | 0.000449 | % | 0.002243 | % | 0.009510 | % | 0.006729 | % |
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