Hawaii 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. Hawaii Assignment of Overriding Royalty Interest Limited As to Depth refers to a legal document that transfers the rights to receive a portion of the profits or royalties from an oil or gas lease in a specified depth zone in Hawaii. This assignment is limited in scope and pertains only to a specific depth or depth range. The purpose of an Assignment of Overriding Royalty Interest Limited As to Depth is to separate ownership of the oil or gas lease by depth, allowing different parties to hold rights in separate depth intervals. This is particularly valuable in Hawaii, where oil and gas exploration may involve drilling through multiple productive zones at various depths. There are several types of Hawaii Assignment of Overriding Royalty Interest Limited As to Depth, each corresponding to a distinct depth interval. These may include: 1. Shallow Zone Assignment: This type of assignment applies to the uppermost depth interval of the oil or gas reservoir, typically the shallowest and easiest to access. Parties acquiring rights in this zone will receive royalties based on production from this specific depth interval. 2. Intermediate Zone Assignment: This assignment covers a middle depth interval within the oil or gas lease. It may include a specific range of depths, allowing the assignee to benefit from hydrocarbon production originating from this intermediate section. 3. Deep Zone Assignment: This assignment relates to the deepest depths of the oil or gas reservoir. Parties holding rights in this zone will receive overriding royalties from hydrocarbon extraction specifically within this deep zone. It's important to note that depending on the structure of the lease and the nature of the oil or gas reservoir, there can be variations in the specific depth intervals covered by the Assignment of Overriding Royalty Interest. These intervals may be defined in terms of geological formations, drilling measurements, or other technical criteria relevant to the specific lease. In summary, the Hawaii Assignment of Overriding Royalty Interest Limited As to Depth is a legal document that enables the transfer of ownership rights to royalties from specific depth intervals of an oil or gas reservoir. The different types of assignments allow parties to hold rights in distinct depth zones, ensuring they receive royalties proportional to production from those particular intervals.

Hawaii Assignment of Overriding Royalty Interest Limited As to Depth refers to a legal document that transfers the rights to receive a portion of the profits or royalties from an oil or gas lease in a specified depth zone in Hawaii. This assignment is limited in scope and pertains only to a specific depth or depth range. The purpose of an Assignment of Overriding Royalty Interest Limited As to Depth is to separate ownership of the oil or gas lease by depth, allowing different parties to hold rights in separate depth intervals. This is particularly valuable in Hawaii, where oil and gas exploration may involve drilling through multiple productive zones at various depths. There are several types of Hawaii Assignment of Overriding Royalty Interest Limited As to Depth, each corresponding to a distinct depth interval. These may include: 1. Shallow Zone Assignment: This type of assignment applies to the uppermost depth interval of the oil or gas reservoir, typically the shallowest and easiest to access. Parties acquiring rights in this zone will receive royalties based on production from this specific depth interval. 2. Intermediate Zone Assignment: This assignment covers a middle depth interval within the oil or gas lease. It may include a specific range of depths, allowing the assignee to benefit from hydrocarbon production originating from this intermediate section. 3. Deep Zone Assignment: This assignment relates to the deepest depths of the oil or gas reservoir. Parties holding rights in this zone will receive overriding royalties from hydrocarbon extraction specifically within this deep zone. It's important to note that depending on the structure of the lease and the nature of the oil or gas reservoir, there can be variations in the specific depth intervals covered by the Assignment of Overriding Royalty Interest. These intervals may be defined in terms of geological formations, drilling measurements, or other technical criteria relevant to the specific lease. In summary, the Hawaii Assignment of Overriding Royalty Interest Limited As to Depth is a legal document that enables the transfer of ownership rights to royalties from specific depth intervals of an oil or gas reservoir. The different types of assignments allow parties to hold rights in distinct depth zones, ensuring they receive royalties proportional to production from those particular intervals.