Arizona Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool)

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• Control #: US-OG-940
• Format: Word; Rich Text

Description

This form is an assignment of overriding royalty interest for a non-producing, single lease with reserves the right to pool. The Arizona Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal document that transfers the rights to receive a portion of the royalties derived from the extraction of oil, gas, or minerals from a specific leased property in the state of Arizona. This assignment is typically used in cases where the leased property is not producing any resources currently, but there is a possibility of future production. Keywords: Arizona, assignment, overriding royalty interest, non-producing, single lease, reserves right to pool. In Arizona, there are different types of assignment of overriding royalty interests, each with its own specific characteristics and purposes. Some of these variations include: 1. Arizona Assignment of Overriding Royalty Interest (Producing, Single Lease, Reserves Right to Pool): This type of assignment is used when the leased property is actively producing oil, gas, or minerals. It allows the assignee to receive a portion of the royalties generated from the producing property. 2. Arizona Assignment of Overriding Royalty Interest (Non-Producing, Multiple Leases, Reserves Right to Pool): In this scenario, the assignment covers multiple leased properties that are not currently producing any resources. It grants the assignee the right to receive a percentage of the future royalties if any of the leases begin to produce. 3. Arizona Assignment of Overriding Royalty Interest (Producing, Multiple Leases, Reserves Right to Pool): This assignment extends to multiple leased properties that are currently producing oil, gas, or minerals. It confers upon the assignee the entitlement to a proportionate share of the royalties generated from all the producing leases. The Arizona Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) specifically reserves the right to pool. This means that the assignor retains the ability to merge or combine the leased property with adjoining properties for the purpose of future resource extraction if deemed necessary. Overall, the Arizona Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal instrument that grants the assignee the potential to receive future royalties from a specific leased property in Arizona, even though it is not currently producing any resources. The assignor retains the right to combine or pool the leased property with adjacent properties to optimize future production if circumstances warrant it.

The Arizona Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal document that transfers the rights to receive a portion of the royalties derived from the extraction of oil, gas, or minerals from a specific leased property in the state of Arizona. This assignment is typically used in cases where the leased property is not producing any resources currently, but there is a possibility of future production. Keywords: Arizona, assignment, overriding royalty interest, non-producing, single lease, reserves right to pool. In Arizona, there are different types of assignment of overriding royalty interests, each with its own specific characteristics and purposes. Some of these variations include: 1. Arizona Assignment of Overriding Royalty Interest (Producing, Single Lease, Reserves Right to Pool): This type of assignment is used when the leased property is actively producing oil, gas, or minerals. It allows the assignee to receive a portion of the royalties generated from the producing property. 2. Arizona Assignment of Overriding Royalty Interest (Non-Producing, Multiple Leases, Reserves Right to Pool): In this scenario, the assignment covers multiple leased properties that are not currently producing any resources. It grants the assignee the right to receive a percentage of the future royalties if any of the leases begin to produce. 3. Arizona Assignment of Overriding Royalty Interest (Producing, Multiple Leases, Reserves Right to Pool): This assignment extends to multiple leased properties that are currently producing oil, gas, or minerals. It confers upon the assignee the entitlement to a proportionate share of the royalties generated from all the producing leases. The Arizona Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) specifically reserves the right to pool. This means that the assignor retains the ability to merge or combine the leased property with adjoining properties for the purpose of future resource extraction if deemed necessary. Overall, the Arizona Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal instrument that grants the assignee the potential to receive future royalties from a specific leased property in Arizona, even though it is not currently producing any resources. The assignor retains the right to combine or pool the leased property with adjacent properties to optimize future production if circumstances warrant it.