Alaska Assignment of Overriding Royalty Interest Limited As to Depth

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• Control #: US-OG-290
• Format: Word; Rich Text

Description

This form is used by the Assignor to transfer, assign, and convey to Assignee an overriding royalty interest in a Lease and all oil, gas and other minerals produced, saved and sold from the Lease and Land, which is limited to depth. Alaska Assignment of Overriding Royalty Interest Limited As to Depth is a contractual agreement in the oil and gas industry that outlines the transfer of a limited overriding royalty interest to another party. This interest is limited specifically to a certain depth or stratum of the assigned oil or gas property. In Alaska, various types of Assignment of Overriding Royalty Interest Limited As to Depth can exist, each with their unique features and conditions. These assignments can be classified into the following types: 1. Depth-Limited Assignment: This type of Alaska Assignment of Overriding Royalty Interest limits the royalty interest to a specific depth or stratum within the assigned oil or gas property. The agreement distinctly identifies the depth boundaries within the property, stipulating the extent to which the overriding royalty interest applies. 2. Perforation-Depth Assignment: This assignment is primarily concerned with the depth at which the oil or gas well is drilled and perforated. It allows for the assignment of overriding royalty interest in relation to a specific depth interval perforated within the well bore. The assigned interest applies only to production occurring at or below the perforation interval. 3. Geologic Zoning Assignment: Geologic zoning assignments are a type of Alaska Assignment of Overriding Royalty Interest Limited As to Depth that takes into consideration the geological formations within the assigned property. The overriding royalty interest is allocated based on specific geological zones defined by distinct strata within the property. Each zone may have different assigned royalty interests based on its potential productivity. 4. Target Formation Assignment: This type of assignment focuses on a specific formation targeted for oil or gas extraction within the assigned property. It restricts the overriding royalty interest to production occurring exclusively from the identified formation. The assignment may specify multiple target formations, in which case each formation could have its assigned royalty interest. Alaska Assignment of Overriding Royalty Interest Limited As to Depth is a critical component of oil and gas exploration and production activities in the state. These agreements ensure transparent and well-defined ownership rights, allowing parties involved to clearly determine the extent of their royalty interests based on the depth or formation from which production occurs. It is essential for all parties to thoroughly review and understand the terms and conditions of such assignments to ensure fair and efficient operation and distribution of royalty benefits.

Alaska Assignment of Overriding Royalty Interest Limited As to Depth is a contractual agreement in the oil and gas industry that outlines the transfer of a limited overriding royalty interest to another party. This interest is limited specifically to a certain depth or stratum of the assigned oil or gas property. In Alaska, various types of Assignment of Overriding Royalty Interest Limited As to Depth can exist, each with their unique features and conditions. These assignments can be classified into the following types: 1. Depth-Limited Assignment: This type of Alaska Assignment of Overriding Royalty Interest limits the royalty interest to a specific depth or stratum within the assigned oil or gas property. The agreement distinctly identifies the depth boundaries within the property, stipulating the extent to which the overriding royalty interest applies. 2. Perforation-Depth Assignment: This assignment is primarily concerned with the depth at which the oil or gas well is drilled and perforated. It allows for the assignment of overriding royalty interest in relation to a specific depth interval perforated within the well bore. The assigned interest applies only to production occurring at or below the perforation interval. 3. Geologic Zoning Assignment: Geologic zoning assignments are a type of Alaska Assignment of Overriding Royalty Interest Limited As to Depth that takes into consideration the geological formations within the assigned property. The overriding royalty interest is allocated based on specific geological zones defined by distinct strata within the property. Each zone may have different assigned royalty interests based on its potential productivity. 4. Target Formation Assignment: This type of assignment focuses on a specific formation targeted for oil or gas extraction within the assigned property. It restricts the overriding royalty interest to production occurring exclusively from the identified formation. The assignment may specify multiple target formations, in which case each formation could have its assigned royalty interest. Alaska Assignment of Overriding Royalty Interest Limited As to Depth is a critical component of oil and gas exploration and production activities in the state. These agreements ensure transparent and well-defined ownership rights, allowing parties involved to clearly determine the extent of their royalty interests based on the depth or formation from which production occurs. It is essential for all parties to thoroughly review and understand the terms and conditions of such assignments to ensure fair and efficient operation and distribution of royalty benefits.