An Overriding Royalty Interest IORRI), commonly referred to as an override, is a fractional, undivided interest granting the right to receive proceeds from the sale of oil and/or gas.

It is not an interest in the minerals themselves, but rather in the proceeds of the sale of oil and gas.

Overriding Royalty Interest is carved out of the working interest (WI) of the well and usual conveyed to geologists, landmen, and other oil and gas professionals as financial compensation.

An overriding Royalty interest is free from the cost of production. The owner does not invest in drilling activities or sharing well-operating expenses.

Overriding Royalty Interest (ORRI) agreements terminate when the oil and gas terminates. It is not an interest in the mineral, but rather a share of the production. When the well or wells become uneconomical, the lease is released, terminating both the royalty and overriding royalty interest.

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