Idaho Assignment of Overriding Royalty Interest Limited As to Depth, also known as BOILED, is a legal document that confers the right to share in the mineral production from a specific oil or gas well in Idaho. This assignment grants a limited non-operating interest in the royalties derived from the specified depth range of an oil or gas well. In Idaho, there are mainly two types of BOILED: 1. Idaho Assignment of Overriding Royalty Interest Limited As to Depth (Oil): This type of BOILED is specifically designed for oil wells in Idaho. It allows the assignee to obtain a limited royalty interest in the production from the well within a specified depth range. The assignee is entitled to a percentage of the revenues generated through the specified depth interval, without assuming any operational or drilling responsibilities. 2. Idaho Assignment of Overriding Royalty Interest Limited As to Depth (Gas): This type of BOILED is tailored for gas wells in Idaho. Just like its oil counterpart, it grants the assignee a non-operating interest in the royalties derived from a specified depth range within the gas well. The assignee receives a proportionate share of the revenues generated from the gas production within the designated depth interval. Both types of BOILED in Idaho serve as a contractual agreement between the assignor (the party with the existing royalty interest) and the assignee (the party acquiring the overriding royalty interest). The assignor conveys a limited interest in the royalties from the specified depth range, while retaining the royalty rights from other depths not covered by the assignment. These assignments are often used by individuals or entities seeking to diversify their investment portfolio or capitalize on potential resource extraction. They provide a means for assignees to participate in the financial benefits of oil or gas production without having to bear the risks associated with operational aspects, such as drilling and maintenance. It's important for all parties involved in an Idaho Assignment of Overriding Royalty Interest Limited As to Depth to thoroughly review and understand the terms and conditions of the agreement. Consulting legal professionals with experience in oil and gas transactions is highly recommended ensuring compliance with applicable laws and to protect the rights and interests of all parties involved.
Idaho Assignment of Overriding Royalty Interest Limited As to Depth
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How to fill out Idaho Assignment Of Overriding Royalty Interest Limited As To Depth?
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