Cross Timbers Royalty was created by conveyance of 90% net profits interests in certain royalty and overriding royalty interest
properties in Texas, Oklahoma and New Mexico and 75% net profits interests in certain working interest properties in Texas and Oklahoma, USA.
RANGE RESOURCES announced that it has agreed to sell a 2% proportionately reduced overriding royalty interest
in 350,000 net surface acres in southwest Appalachia for gross proceeds totaling $600M.
US-based Arteaus Therapeutics, a biotechnology development company co-founded by Atlas Venture and OrbiMed, has sold its royalty interest
on future global net sales of US-based drugmaker Eli Lilly and Company's (NYSE: LLY) Emgality (galcanezumab), an anti-CGRP antibody for the prevention of migraine, to US-based Royalty Pharma and for USD 260m, the companies said.
The disposed assets included 1 percent gross overriding royalty interest
previously retained on 42 net sections (27,722 net acres) of undeveloped oil sands leases in northeast Alberta sold in June 2015 and March 2016.
The company has a 75% net overriding royalty interest
carved out of Burlington's oil and gas interests (the subject interests) in properties located in the San Juan Basin in northwestern New Mexico.
The B-R Jonah royalty property consists of over 34,000 gross acres of Mineral Interests, Royalty Interest
and Overriding Royalty Interests
producing monthly cash flow in excess of $10,900 per month.
M2 PHARMA-August 18, 2010-XOMA sells royalty interest
in CIMZIA for USD4m(C)2010 M2 COMMUNICATIONS
ENERGY RESOURCE-2 March 2009-Royal Energy Resources Acquires Royalty Interest
in Wyoming Oil, Gas Field(C)2009 JeraOne - http://www.jeraone.com
Earlier this year, the company disclosed that Royalty Pharma had completed purchase of a royalty interest
in up to two products targeting cancer based on InNexus' DXL(TM) antibody enhancement technology.
Under the terms of the agreement, Royalty Pharma will purchase the first royalty interest
for $2 million and will hold an option to purchase a royalty interest
in a second product for an additional $2 million.
One held that an overriding royalty interest
was part of a like-kind exchange, the other that a carved-out oil payment was not part of a like-kind exchange.