Remember the overriding royalty is the right to receive revenues, in addition to the basic royalty, from the production of oil and gas from a well without paying the drilling or monthly operating expenses from the well. An overriding royalty interest expires once the lease has expired and production has stopped.
These transactions, combined with the recently announced equity offering, are expected to reduce total debt by approximately $263.0 million ! This should be considered highly on there earnings report. Also take into consideration that they did not borrow the money to pay down debt at high interest rates! This is my main reason for purchasing CMZ, my total shares is now at 60K. GLTA