Arkansas Assignment of Overriding Royalty Interests for Multiple Leases

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• Control #: US-OG-036
• Format: Word; Rich Text

Description

This form is used by the Assignor to transfer, assign, and convey to Assignee an overriding royalty interest in multiple leases. Arkansas Assignment of Overriding Royalty Interests in Multiple Leases refers to a legal document that allows the transfer or assignment of overriding royalty interests from one party to another in relation to multiple leases in Arkansas. This agreement is commonly used in the oil and gas industry to facilitate the acquisition or consolidation of interests in various leases. Overriding royalty interests (ORRIS) are a type of non-operating interest that entitles the holder to receive a share of the revenue generated from the leases, typically a percentage of the gross revenue before expenses. The ORRIS holder does not bear any costs or obligations associated with the operational activities on the leases, as those responsibilities lie with the working interest owners. This assignment document outlines the specific terms and conditions governing the transfer of the overriding royalty interests. It includes key provisions such as the effective date, the parties involved, the description of the leases, the percentage of the ORRIS being assigned, and any additional considerations or limitations. There are different types of Arkansas Assignment of Overriding Royalty Interests in Multiple Leases, including: 1. Partial Assignment: This type of assignment involves transferring only a portion or fraction of the overriding royalty interests from one party to another. It allows for a partial consolidation of interests while maintaining an existing ownership structure. 2. Full Assignment: A full assignment refers to the complete transfer of all overriding royalty interests related to multiple leases from one party to another. This type of assignment often occurs when a party wishes to divest their entire interest in the leases. 3. Proportional Assignment: In a proportional assignment, the overriding royalty interests being transferred are divided among multiple assignees based on predetermined percentages. This type of assignment may be used when multiple parties want to acquire varying proportions of the interests. 4. Permanent Assignment: A permanent assignment signifies a permanent transfer of overriding royalty interests from the assignor to the assignee, with no provisions for reversion or reassignment. This type of assignment provides the assignee with long-term rights to the royalty interests. In conclusion, the Arkansas Assignment of Overriding Royalty Interests in Multiple Leases is a legal document that facilitates the transfer of overriding royalty interests between parties in relation to multiple leases in Arkansas. This document ensures that the rights and obligations concerning the royalty interests are properly conveyed and recorded.

Arkansas Assignment of Overriding Royalty Interests in Multiple Leases refers to a legal document that allows the transfer or assignment of overriding royalty interests from one party to another in relation to multiple leases in Arkansas. This agreement is commonly used in the oil and gas industry to facilitate the acquisition or consolidation of interests in various leases. Overriding royalty interests (ORRIS) are a type of non-operating interest that entitles the holder to receive a share of the revenue generated from the leases, typically a percentage of the gross revenue before expenses. The ORRIS holder does not bear any costs or obligations associated with the operational activities on the leases, as those responsibilities lie with the working interest owners. This assignment document outlines the specific terms and conditions governing the transfer of the overriding royalty interests. It includes key provisions such as the effective date, the parties involved, the description of the leases, the percentage of the ORRIS being assigned, and any additional considerations or limitations. There are different types of Arkansas Assignment of Overriding Royalty Interests in Multiple Leases, including: 1. Partial Assignment: This type of assignment involves transferring only a portion or fraction of the overriding royalty interests from one party to another. It allows for a partial consolidation of interests while maintaining an existing ownership structure. 2. Full Assignment: A full assignment refers to the complete transfer of all overriding royalty interests related to multiple leases from one party to another. This type of assignment often occurs when a party wishes to divest their entire interest in the leases. 3. Proportional Assignment: In a proportional assignment, the overriding royalty interests being transferred are divided among multiple assignees based on predetermined percentages. This type of assignment may be used when multiple parties want to acquire varying proportions of the interests. 4. Permanent Assignment: A permanent assignment signifies a permanent transfer of overriding royalty interests from the assignor to the assignee, with no provisions for reversion or reassignment. This type of assignment provides the assignee with long-term rights to the royalty interests. In conclusion, the Arkansas Assignment of Overriding Royalty Interests in Multiple Leases is a legal document that facilitates the transfer of overriding royalty interests between parties in relation to multiple leases in Arkansas. This document ensures that the rights and obligations concerning the royalty interests are properly conveyed and recorded.