This module provides examples of conveyances and subdivisions of a mineral estate over time. It describes joint working interests and joint operating agreements which govern the partnering of oil and gas companies. It explains overriding royalty interest. It also compares different royalty types: NPRI, lease royalty, and overriding royalty. Furthermore, this module explains net profits interest, farmouts, and production payments.

Duration: Approximately 38 minutes, depending on user pace. In two modules: 6A (20 minutes) and 6B (18 minutes).

Learning Objectives: Upon successful completion of this module, you will be able to:

• Name all of the common types of mineral interests
• Explain the origination and purpose of mineral interest types
• Describe common methods and reasons for mineral interest conveyances
• Discuss the relationships between mineral estate owners and working interest owners
• Discuss how a mineral estate owner could participate as a self-developer

Prerequisites: Module 1-5

Advance Preparation: None

Program Level: Non-technical

Format: Prerecorded narrator with supporting visuals. User controls course pace.