HomeMy WebLinkAbout20220717.tiffRESOLUTION
RE: APPROVE ASSIGNMENT OF OVERRIDING ROYALTY FROM NICKEL ROAD
DEVELOPMENT, LLC, TO SOURCE ROCK ROYALTY, LLC - S8, T7N, R67W
WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to
Colorado statue and the Weld County Home Rule Charter, is vested with the authority of
administering the affairs of Weld County, Colorado, and
WHEREAS, Nickel Road Development, LLC, 44 Cook Street, Suite 705, Denver, Colorado
80206, has requested permission to assign one and one-half percent (1.5%) Overriding Royalty
interest of Oil and Gas Lease, LE0343, per provision #10 of said lease, covering 1.82 net minerals
acres, located in Section 8, Township 7 North, Range 67 West of the 6th P.M., Weld County,
Colorado, to Source Rock Royalty, LLC, 3758 E. 104th Avenue #73, Thornton, Colorado 80233,
and
WHEREAS, said Oil and Gas Lease is recorded under Reception No. 4408441, in the
records of the Weld County Clerk and Recorder, and
WHEREAS, pursuant to Weld County's mineral leasing policy, said assignment must be
approved by the Board of County Commissioners, and
WHEREAS, after consideration, the Board deems it appropriate to approve said
assignment.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, Colorado, that the assignment of said Overriding Royalty from Nickel Road Development,
LLC, to Source Rock Royalty, LLC, be, and hereby is, approved.
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 7th day of March, A.D., 2022.
BOARD OF COUNTY COMMISSIONERS
WE COUNTY, COLORADO
ATTEST: ddrito) jeida;ok.
Weld County Clerk to the Board
County Attorney
Date of signature: g3(r1('/22
tt K. James, Chair
Taal -
Mike Freeman, Pro -Tern
EXCUSED
Perry L. Buck
cc: CTS (sR), C R(86),
LeSSee
3/25/a.2_
2022-0717
LE0343
Jessica Reid
From:
Sent:
To:
Subject:
Attachments:
Blake Leavitt<blake.leavitt@nickelroadoperating.com>
Wednesday, December 8, 2021 12:30 PM
CTB-Oil and Gas Leasing
Assignment of Override Request
4408441-1.pdf; 4658830-1.pdf
Caution: This email originated from outside of Weld County Government. Do not click links or open attachments unless you recognize the
sender and know the content is safe.
Jess,
Pursuant to paragraph 10 on the attached Oil and Gas Leases (4408441 and 4658830), I am requesting approval for an
Assignment of Overriding Royalty Interest from Nickel Road Development who is the current owner of Record to Source
Rock Royalty in the amount of 1.5% of 8/8ths bringing the total burdens of record to 20% (18.5% lease royalty +
requested 1.5% Override = 20%). What is the process for this approval normally? Does it get put on the consent agenda
for the commissioners or does that power rest with you? We have not yet filed the assignment of record but I intend to
file it ASAP.
Thanks,
Blake Leavitt - CPL I VP -Land I Cell - 970-590-2343
Nickel Road Operating LLC — 44 Cook Street, Suite 705 - Denver, CO 80206
Blakeleavitt@NickelRoadOperating.com
2022-0717
1
3/
LGO3
Hello