District of Columbia Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the Right to Pool

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• Control #: US-OG-691
• 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 non-producing Leases. A District of Columbia Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the Right to Pool refers to a legal agreement within the oil and gas industry. This arrangement allows a party, known as the assignor, to transfer their overriding royalty interest (ORRIS) in multiple leases located in the District of Columbia. Keywords: District of Columbia, Assignment of Overriding Royalty Interest, Multiple Leases, Non Producing, Reservation of Right to Pool In such a scenario, there can be different types of District of Columbia Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with the Reservation of the Right to Pool. These can include: 1. Standard Assignment with Non-Producing Leases: This type of assignment involves the transfer of an ORRIS from the assignor to the assignee for multiple leases located in the District of Columbia. These leases are currently non-producing, meaning no oil or gas extraction is taking place. However, the right to pool is reserved, allowing for the possibility of future pooling and development activities. 2. Partial Assignment with Non-Producing Leases: In this type of assignment, the assignor transfers only a portion of their ORRIS in multiple non-producing leases to the assignee. The remaining interest is retained by the assignor. The leaseholder retains the right to pool the assigned ORRIS. 3. Assignment with Non-Producing Leases and Right to Pool specified: This assignment type involves the transfer of a non-producing lease or leases with the specific reservation of the right to pool. The assignor conveys their ORRIS in these leases to the assignee, highlighting the explicit retention of the right to engage in pooling activities in the future. 4. Assignment with Non-Producing Leases and Conditional Reservation of the Right to Pool: This assignment type outlines specific conditions under which the assignor retains the right to pool in the future. For example, the assignor may reserve this right until a certain production threshold is reached or until a specified timeline has elapsed. 5. Assignment with Non-Producing Leases and Partial Right to Pool: In some cases, an assignor may transfer their ORRIS in non-producing leases to an assignee while retaining a partial right to pool. This arrangement allows the assignee to initiate pooling activities up to a certain extent while still providing the assignor with limited pooling rights. Overall, the District of Columbia Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the Right to Pool allows for the legal transfer of ORRIS in non-producing leases, while preserving the potential for pooling and future development activities. The various types of assignments cater to diverse scenarios and specific terms agreed upon by the involved parties.

A District of Columbia Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the Right to Pool refers to a legal agreement within the oil and gas industry. This arrangement allows a party, known as the assignor, to transfer their overriding royalty interest (ORRIS) in multiple leases located in the District of Columbia. Keywords: District of Columbia, Assignment of Overriding Royalty Interest, Multiple Leases, Non Producing, Reservation of Right to Pool In such a scenario, there can be different types of District of Columbia Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with the Reservation of the Right to Pool. These can include: 1. Standard Assignment with Non-Producing Leases: This type of assignment involves the transfer of an ORRIS from the assignor to the assignee for multiple leases located in the District of Columbia. These leases are currently non-producing, meaning no oil or gas extraction is taking place. However, the right to pool is reserved, allowing for the possibility of future pooling and development activities. 2. Partial Assignment with Non-Producing Leases: In this type of assignment, the assignor transfers only a portion of their ORRIS in multiple non-producing leases to the assignee. The remaining interest is retained by the assignor. The leaseholder retains the right to pool the assigned ORRIS. 3. Assignment with Non-Producing Leases and Right to Pool specified: This assignment type involves the transfer of a non-producing lease or leases with the specific reservation of the right to pool. The assignor conveys their ORRIS in these leases to the assignee, highlighting the explicit retention of the right to engage in pooling activities in the future. 4. Assignment with Non-Producing Leases and Conditional Reservation of the Right to Pool: This assignment type outlines specific conditions under which the assignor retains the right to pool in the future. For example, the assignor may reserve this right until a certain production threshold is reached or until a specified timeline has elapsed. 5. Assignment with Non-Producing Leases and Partial Right to Pool: In some cases, an assignor may transfer their ORRIS in non-producing leases to an assignee while retaining a partial right to pool. This arrangement allows the assignee to initiate pooling activities up to a certain extent while still providing the assignor with limited pooling rights. Overall, the District of Columbia Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the Right to Pool allows for the legal transfer of ORRIS in non-producing leases, while preserving the potential for pooling and future development activities. The various types of assignments cater to diverse scenarios and specific terms agreed upon by the involved parties.