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Eddy owns a 100% Fee Simple Interest in a tract of land. CPL acquires a lease from Eddy. The lease has a one-eighth royalty and
Eddy owns a 100% Fee Simple Interest in a tract of land. CPL acquires a lease from Eddy. The lease has a one-eighth royalty and contains a proportionate reduction clause. CPL grants an assignment to Y-Oil. In the assignment, CPL assigns "25% of all its right, title and interest" to Y- Oil. CPL then grants an assignment to X-Oil. In the assignment, CPL assigns "25% of all its right title and interest" to X-Oil. CPL then grants an assignment to Z-Oil. In the assignment, CPL assigns "a 10% working interest from its right, title and interest" to Z-Oil All Assignments have proportionate reduction clauses and are subject to all contracts and agreements of record. Compute the WI and NRI percentages controlled by all parties. Entity WI NRI Eddy Y-Oil X-Oil Z-Oil CPL Section 6 is owned and leased as follows: Minerals: Barry owns 60% - leased to Sadie 0 & G with a 3/16 royalty. Sadie conveyed of its interest to Black Gold Oil. Hermine owns 40%, subject to 1/32 NPRI owned by Jeff-leased to Amber Oil with a 1/8 royalty. Amber conveyed 10% of its interest to Basin Energy. Determine the Well NRI of each party. Eddy owns a 100% Fee Simple Interest in a tract of land. CPL acquires a lease from Eddy. The lease has a one-eighth royalty and contains a proportionate reduction clause. CPL grants an assignment to Y-Oil. In the assignment, CPL assigns "25% of all its right, title and interest" to Y- Oil. CPL then grants an assignment to X-Oil. In the assignment, CPL assigns "25% of all its right title and interest" to X-Oil. CPL then grants an assignment to Z-Oil. In the assignment, CPL assigns "a 10% working interest from its right, title and interest" to Z-Oil All Assignments have proportionate reduction clauses and are subject to all contracts and agreements of record. Compute the WI and NRI percentages controlled by all parties. Entity WI NRI Eddy Y-Oil X-Oil Z-Oil CPL Section 6 is owned and leased as follows: Minerals: Barry owns 60% - leased to Sadie 0 & G with a 3/16 royalty. Sadie conveyed of its interest to Black Gold Oil. Hermine owns 40%, subject to 1/32 NPRI owned by Jeff-leased to Amber Oil with a 1/8 royalty. Amber conveyed 10% of its interest to Basin Energy. Determine the Well NRI of each party
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