I have a Lease Assignment from 1939 that refers to an ORR reservation. A paragraph of the lease assignment says
"... and certain reservation by XXX of oil and gas or over-riding royalty as set out in certain contract of even date herewith between the parties hereto , the undersigned, the present owner of the said leases as set forth, and all rights thereunder or incident thereto, does hereby bargain, sell, transfer, assign and convey all rights, title and interest of the original lease and present owner, except the oil and gas reservation above noted, in and to the said leases ..."
I've called the County Clerk's Office and they have a copy of the Lease Assignment but they say they do not have the contract referenced in the Lease Assignment.
Can anyone advise?
Patricia, that is a good question. My assumption is that the overriding rights were tied to a specific lease that has long since expired. With that said, I have the same question related to a number of ORI's from that time frame and I have often wondered whether any of those leases remained in effect and where we were simply "lost" to the oil company and where those funds might be. I will stay tuned to see what experts say.
The lease is still in effect. I know because it is included in a Unit Agreement in which I have other interest. If the lease were not in effect, then it reverts back to the base lease which I own anyway. So, I am seeing others receiving the royalties which I believe are mine (based on the missing contract).
Have you considered sending a letter to the operator requesting an accounting and payment of any and all amounts due?
I tried calling him. He is in his 80's and seemed to be confused.
I have seen ORRI in operating agreements and other documents not in the deed records. Contact the current operator and ask them if they have the agreement that created the ORRI.