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'Operating Interests,' 'Working Interests,' 'Production Payments' and 'Overriding' Royalty Interests

The recent decline in oil prices and the historically low and stagnant natural gas prices are causing various parties in the oil and gas industries to seek bankruptcy protection. As a result, bankruptcy judges must apply specialized Bankruptcy Code provisions and varying other applicable non-bankruptcy laws to determine the rights of debtor and non-debtor parties to such agreements as those providing Overriding Royalty Interests (ORRI) and Net Operating Interests (NOI).

28 minute read June 01, 2015 at 12:19 PM
By
Amy M. Tonti And Robert P. Simons
'Operating Interests,' 'Working Interests,' 'Production Payments' and 'Overriding' Royalty Interests

The recent decline in oil prices and the historically low and stagnant natural gas prices are causing various parties in the oil and gas industries to seek bankruptcy protection.

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