ASSIGNMENT OF OVERRIDING ROYALTY (Multiple Assignees)

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EX-10.24 24 d406707dex1024.htm ASSIGNMENT OF OVERRIDING ROYALTY (ENERGY & EXPLORATION PARTNERS, LLC) <![CDATA[Assignment of Overriding Royalty (Energy & Exploration Partners, LLC)]]>

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 DRIVER’S 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.

 

1


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 Assignee’s 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.]

 

2


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]

 

3


EXHIBIT A

 

                                   Assignee ORRI  

STATE

  

COUNTY

  

LESSOR

  

LESSEE (1)

  

RECORDING DATE

  

VOLUME
(Reception#)

  

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

 

Page 1 of 3


EXHIBIT A

 

 

STATE

  

COUNTY

  

LESSOR

  

LESSEE (1)

  

RECORDING DATE

  

VOLUME
(Reception#)

  

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. Joseph’s 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, Trustee’s    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

 

Page 2 of 3


EXHIBIT A

 

 

STATE

  

COUNTY

  

LESSOR

  

LESSEE (1)

  

RECORDING DATE

  

VOLUME
(Reception#)

  

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)(Add’l 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

 

Page 3 of 3