ASSIGNMENT OF OVERRIDING ROYALTY (Multiple Assignees)

Contract Categories: Business Finance - Assignment Agreements
EX-10.25 25 d406707dex1025.htm ASSIGNMENT OF OVERRIDING ROYALTY (ENERGY & EXPLORATION PARTNERS, LLC) <![CDATA[Assignment of Overriding Royalty (Energy & Exploration Partners, LLC)]]>

Exhibit 10.25

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”:

Oso+Toro Multistrategy Fund Series Interest of the SALI Multiseries Fund II 3(C1) LP, whose address is 6836 Austin Center Boulevard, Suite 320, Austin, Texas 78731;

Oso+Toro Multistrategy Fund (Tax Exempt) Segregated Portfolio of the SALI Multiseries Fund SPC Ltd, whose address is 6836 Austin Center Boulevard, Suite 320, Austin, Texas 78731;

Carl Lasner, an individual, whose address is 1225 Red Hawk Rd., Wimberley, TX 78678;

Zachary Burk Lowe, an individual, whose address is 4154 Santa Barbara Dr., Dallas, Texas 75214;

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 (2)  

STATE

   COUNTY   

LESSOR

   LESSEE (1)    RECORDING
DATE
   VOLUME
(Reception#)
   PAGE    OSO1     OSO2     Carl
Lasner
    Jason Roberts     LOWE  
WY    Goshen    Ronald L. & Helga E. Cook    ENEXP    1/31/2011    810    16      0.566040     0.377360     0.009430     0.023590     0.023580
WY    Goshen    TNT Farms, Inc. c/o Debra Wilson    ENEXP    1/31/2011    810    15      0.566040     0.377360     0.009430     0.023590     0.023580
WY    Goshen    Robert S. & Christi L. Shields    ENEXP    3/31/2011    813    114      0.849060     0.566040     0.014145     0.035385     0.035370
WY    Goshen    Timothy Rex & Kathleen Trumball    ENEXP    2/22/2011    811    117      0.849060     0.566040     0.014145     0.035385     0.035370
WY    Goshen    Donald L. & Barbara R. Hill    ENEXP    6/20/2011    818    142      0.849060     0.566040     0.014145     0.035385     0.035370
WY    Goshen    Susan K. Bryant    ENEXP    3/29/2011    813    93      0.566040     0.377360     0.009430     0.023590     0.023580
WY    Goshen    Patricia Cooper    ENEXP    3/29/2011    813    92      0.566040     0.377360     0.009430     0.023590     0.023580
WY    Goshen    Elizabeth Jane Newell    ENEXP    3/29/2011    813    94      0.566040     0.377360     0.009430     0.023590     0.023580
WY    Goshen    Rachel M. Schreiner Trust    ENEXP    6/20/2011    818    143      0.849060     0.566040     0.014145     0.035385     0.035370
WY    Goshen    State of Wyoming #10-00728    ENEXP    3/29/2011    813    91      0.377360     0.251573     0.006287     0.015727     0.015720
WY    Goshen    Bureau of Land Management #179686    ENEXP    3/29/2011    813    88      0.849060     0.566040     0.014145     0.035385     0.035370
WY    Goshen    Bureau of Land Management #179691    ENEXP    3/29/2011    813    89      0.849060     0.566040     0.014145     0.035385     0.035370
WY    Goshen    Bureau of Land Management #179692    ENEXP    3/29/2011    813    90      0.849060     0.566040     0.014145     0.035385     0.035370
WY    Goshen    Bureau of Land Management #179694    ENEXP    6/22/2011    818    158      0.849060     0.566040     0.014145     0.035385     0.035370
WY    Goshen    Gene & Karen Wolfe    ENEXP    2/22/2011    811    114      0.849060     0.566040     0.014145     0.035385     0.035370
WY    Goshen    Rodney & Robbin Nipper    ENEXP    2/22/2011    811    115      0.849060     0.566040     0.014145     0.035385     0.035370
WY    Goshen    Richard & Laura Young    ENEXP    2/22/2011    811    116      0.283020     0.188680     0.004715     0.011795     0.011790
WY    Goshen    Bob and Mary Sue Van Newkirk    ENEXP    3/31/2011    813    113      0.849060     0.566040     0.014145     0.035385     0.035370
WY    Goshen    Brent and Cindy Medford    ENEXP    4/13/2011    814    122      0.377360     0.251573     0.006287     0.015727     0.015720
WY    Goshen    Terry & Julianne Rogers    ENEXP    10/24/2011    824    66      0.452832     0.301888     0.007544     0.018872     0.018864

 

Page 1 of 3


EXHIBIT A

 

 

STATE

   COUNTY   

LESSOR

   LESSEE (1)    RECORDING
DATE
   VOLUME
(Reception#)
   PAGE    OSO1     OSO2     Carl
Lasner
    Jason Roberts     LOWE  
WY    Goshen    Joel & Marilyn Miskimins    ENEXP    3/31/2011    813    112      0.141510     0.094340     0.002357     0.005897     0.005895
WY    Goshen    Gwendolyn B. Miskimins    ENEXP    3/31/2011    813    111      0.141510     0.094340     0.002357     0.005897     0.005895
WY    Goshen    Susan L. Sorrick    ENEXP    3/29/2011    813    95      0.141510     0.094340     0.002357     0.005897     0.005895
WY    Goshen    Joan F. Beien    ENEXP    3/21/2011    812    199      0.849060     0.566040     0.014145     0.035385     0.035370
WY    Goshen    Roland I. Schwindt    ENEXP    5/20/2011    816    204      0.141510     0.094340     0.002357     0.005897     0.005895
WY    Goshen    Theodore & Georgia Whitaker    ENEXP    9/20/2011    822    195      0.849060     0.566040     0.014145     0.035385     0.035370
WY    Goshen    Rodney & Lori Weyrich    ENEXP    5/17/2011    816    165      0.141510     0.094340     0.002357     0.005897     0.005895
WY    Goshen    James Allan Johnston    ENEXP    7/5/2011    819    65      0.679248     0.452832     0.011316     0.028308     0.028296
WY    Goshen    St. Joseph’s Childrens Home    ENEXP    5/2/2011    815    160      0.377360     0.251573     0.006287     0.015727     0.015720
WY    Goshen    Dudley D. Hatterman    ENEXP    4/20/2011    815    76      0.141510     0.094340     0.002357     0.005897     0.005895
WY    Goshen    Tom A. & Verna R. Scott    ENEXP    7/5/2011    819    66      0.141510     0.094340     0.002357     0.005897     0.005895
WY    Goshen    Steven N. Smith & Marion N. Smith, Trustee’s    ENEXP    6/20/2011    818    141      0.377360     0.251573     0.006287     0.015727     0.015720
WY    Goshen    Steven G. Shaddock    ENEXP    6/21/2011    818    147      0.849060     0.566040     0.014145     0.035385     0.035370
WY    Goshen    George G. Vaught, Jr.    ENEXP    6/21/2011    818    148      0.849060     0.566040     0.014145     0.035385     0.035370
WY    Goshen    McCulliss Resources Co.    ENEXP    6/21/2011    818    149      0.849060     0.566040     0.014145     0.035385     0.035370
WY    Goshen    Brent C. Kaufman    ENEXP    11/8/2011    825    97      0.141510     0.094340     0.002357     0.005897     0.005895
WY    Goshen    John L. & Donna R. Bath    ENEXP    12/9/2011    826    149      0.141510     0.094340     0.002357     0.005897     0.005895
WY    Goshen    Fred L. & Delores Reichert    ENEXP    7/18/2011    819    188      0.849060     0.566040     0.014145     0.035385     0.035370

 

Page 2 of 3


EXHIBIT A

 

 

STATE

   COUNTY   

LESSOR

   LESSEE (1)    RECORDING
DATE
   VOLUME
(Reception#)
   PAGE    OSO1     OSO2     Carl
Lasner
    Jason Roberts     LOWE  
WY    Goshen    Larry L. & Deidre Anderson    ENEXP    6/20/2011    818    140      0.849060     0.566040     0.014145     0.035385     0.035370
WY    Goshen    Travis Evans    ENEXP    7/11/2011    819    134      0.849060     0.566040     0.014145     0.035385     0.035370
WY    Goshen    John D. Somsen, Jr.    ENEXP    6/1/2011    817    129      0.377360     0.251573     0.006287     0.015727     0.015720
WY    Goshen    John W. & Rosanna Harris    ENEXP    8/8/2011    820    169      0.141510     0.094340     0.002357     0.005897     0.005895
WY    Goshen    Gary L. Sims, Iris K. Sims    ENEXP    8/16/2011    821    69      0.141510     0.094340     0.002357     0.005897     0.005895
WY    Goshen    Gerald A. Stephenson and Mary Ann Stephenson Family Living Trust, Gerald A. Stephenson, Trustee    ENEXP    6/27/2011    819    6      0.849060     0.566040     0.014145     0.035385     0.035370
WY    Goshen    Mary Ann Stephenson    ENEXP    6/27/2011    819    5      0.849060     0.566040     0.014145     0.035385     0.035370
WY    Goshen    Town of Yoder    ENEXP    1/4/2012    828    61      0.452832     0.301888     0.007544     0.018872     0.018864
WY    Laramie    Dale & Darlene Bowman    ENEXP    1/10/2011    2202    1122      0.849060     0.566040     0.014145     0.035385     0.035370
WY    Laramie    Robert T & Genevieve G. Scott    ENEXP    12/14/2010    2198    635      0.226416     0.150944     0.003772     0.009436     0.009432
WY    Laramie    State of Wyoming #10-00725    ENEXP    5/11/2011    2219    1132      0.377360     0.251573     0.006287     0.015727     0.015720
WY    Laramie    State of Wyoming #10-00726    ENEXP    5/11/2011    2219    1136      0.377360     0.251573     0.006287     0.015727     0.015720
WY    Laramie    State of Wyoming #10-00727    ENEXP    5/11/2011    2219    1134      0.377360     0.251573     0.006287     0.015727     0.015720
WY    Laramie    Bureau of Land Management #179752    ENEXP    5/11/2011    2219    1128      0.849060     0.566040     0.014145     0.035385     0.035370
WY    Laramie    B. Clinton & Shari L. Farrar    ENEXP    2/3/2011    2206    913      0.849060     0.566040     0.014145     0.035385     0.035370
WY    Laramie    Marilyn E. Luman and Merril J. Luman    ENEXP    2/23/2011    2208    1504      0.849060     0.566040     0.014145     0.035385     0.035370
WY    Laramie    Butler Farms    ENEXP    5/27/2011    2221    1134      0.849060     0.566040     0.014145     0.035385     0.035370
WY    Laramie    Jody Lynn Clark (aka Jody Lynn Cole)(Add’l per Laycock Duhig)    ENEXP    6/1/2011    2222    162      0.849060     0.566040     0.014145     0.035385     0.035370
WY    Laramie    Janet Stahla    ENEXP    TBD    TBD    TBD      0.849060     0.566040     0.014145     0.035385     0.035370
WY    Laramie    Bonnie J. Kester    ENEXP    11/21/2011    2246    470      0.141510     0.094340     0.002357     0.005897     0.005895

 

Page 3 of 3