Indiana 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. Keywords: Indiana Assignment of Overriding Royalty Interest Limited As to Depth, oil and gas production, overriding royalty interest, limited depth, mineral rights, lease assignment. Description: The Indiana Assignment of Overriding Royalty Interest Limited As to Depth refers to a legal document that grants a partial ownership interest in oil and gas production to an individual or entity. This assignment specifically pertains to the limited depth of the underlying mineral rights, wherein the assignee's ownership rights are restricted to a specific stratum or depth of the earth's crust. An overriding royalty interest, also known as an ORRIS, allows the assignee to receive a portion of the gross revenue from oil and gas production. This type of interest is different from a royalty interest associated with mineral rights ownership, as it is not tied to the same property or land. Instead, the assignee receives a percentage of the revenue generated from a specific depth within the leased area. The Indiana Assignment of Overriding Royalty Interest Limited As to Depth can arise from various circumstances, such as lease agreements, inheritance, or corporate transactions. It serves as a legal mechanism for the assignor to transfer a limited depth interest to another party, granting them the right to receive a portion of the production revenues from a particular stratum in the leased area. Different types of Indiana Assignments of Overriding Royalty Interest Limited As to Depth may exist, depending on the specific terms outlined in the document. For example, an assignment might limit the assignee's interest to a particular formation or geological unit within the leased area. Alternatively, it could restrict the assignee's depth interest to a specific depth interval, allowing them to partake in the production only from within that range. The assignment process typically involves the negotiation and execution of a legally binding agreement between the assignor, who owns the overriding royalty interest, and the assignee, who seeks to acquire a limited depth interest in the designated oil and gas lease. This transfer of rights is commonly facilitated by legal professionals or title agencies knowledgeable in oil and gas transactions. Overall, the Indiana Assignment of Overriding Royalty Interest Limited As to Depth signifies an important aspect of the oil and gas industry in Indiana. It allows for the efficient transfer of limited-depth ownership rights, facilitating the exploration, production, and distribution of oil and gas resources while providing an opportunity for individuals and entities to participate in revenue generation from specific depths within the leased area.

Keywords: Indiana Assignment of Overriding Royalty Interest Limited As to Depth, oil and gas production, overriding royalty interest, limited depth, mineral rights, lease assignment. Description: The Indiana Assignment of Overriding Royalty Interest Limited As to Depth refers to a legal document that grants a partial ownership interest in oil and gas production to an individual or entity. This assignment specifically pertains to the limited depth of the underlying mineral rights, wherein the assignee's ownership rights are restricted to a specific stratum or depth of the earth's crust. An overriding royalty interest, also known as an ORRIS, allows the assignee to receive a portion of the gross revenue from oil and gas production. This type of interest is different from a royalty interest associated with mineral rights ownership, as it is not tied to the same property or land. Instead, the assignee receives a percentage of the revenue generated from a specific depth within the leased area. The Indiana Assignment of Overriding Royalty Interest Limited As to Depth can arise from various circumstances, such as lease agreements, inheritance, or corporate transactions. It serves as a legal mechanism for the assignor to transfer a limited depth interest to another party, granting them the right to receive a portion of the production revenues from a particular stratum in the leased area. Different types of Indiana Assignments of Overriding Royalty Interest Limited As to Depth may exist, depending on the specific terms outlined in the document. For example, an assignment might limit the assignee's interest to a particular formation or geological unit within the leased area. Alternatively, it could restrict the assignee's depth interest to a specific depth interval, allowing them to partake in the production only from within that range. The assignment process typically involves the negotiation and execution of a legally binding agreement between the assignor, who owns the overriding royalty interest, and the assignee, who seeks to acquire a limited depth interest in the designated oil and gas lease. This transfer of rights is commonly facilitated by legal professionals or title agencies knowledgeable in oil and gas transactions. Overall, the Indiana Assignment of Overriding Royalty Interest Limited As to Depth signifies an important aspect of the oil and gas industry in Indiana. It allows for the efficient transfer of limited-depth ownership rights, facilitating the exploration, production, and distribution of oil and gas resources while providing an opportunity for individuals and entities to participate in revenue generation from specific depths within the leased area.