Louisiana Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool)

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• Control #: US-OG-940
• Format: Word; Rich Text

Description

This form is an assignment of overriding royalty interest for a non-producing, single lease with reserves the right to pool. A Louisiana Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal document that grants the holder the right to receive a percentage of the revenue generated from oil and gas production on a specific leased property in Louisiana. This assignment is non-producing, meaning that the property is not currently producing any oil or gas. The assignment applies to a single lease, indicating that it only pertains to a specific lease agreement between the property owner, known as the lessor, and the lessee, who has secured the rights to explore and extract oil and gas reserves. The overriding royalty interest is the portion of the revenue that the assignee (the party receiving the assignment) is entitled to, which is generally calculated as a percentage. By reserving the right to pool, the assignee ensures the ability to combine the leased property's resources with nearby properties in a process known as unitization or pooling. Pooling allows for more efficient extraction and increased production by consolidating smaller leaseholds into a larger unit, therefore enabling better utilization of resources. Different types or variations of Louisiana Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) may include: 1. "Louisiana Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) — Mineral Rights": This variant explicitly focuses on the overriding royalty interest related to mineral rights, emphasizing the assignee's entitlement to a share of revenue from oil, gas, or other mineral production. 2. "Louisiana Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) — Shale Play": In cases where the leased property is situated within a shale play, such as the Hayesville Shale, this variation highlights the relevance of the assignment in connection with the particular characteristics and potential of shale formations. 3. "Louisiana Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) — Offshore Leases": This type of assignment is tailored to offshore properties, indicating that the lease is located in Louisiana's coastal waters or federal offshore areas governed by state and federal regulations. It is important to consult with legal professionals familiar with Louisiana oil and gas laws to ensure the accurate drafting, execution, and understanding of the specific terms and conditions of any assignment related to overriding royalty interests in non-producing, single lease properties that reserves the right to pool.

A Louisiana Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal document that grants the holder the right to receive a percentage of the revenue generated from oil and gas production on a specific leased property in Louisiana. This assignment is non-producing, meaning that the property is not currently producing any oil or gas. The assignment applies to a single lease, indicating that it only pertains to a specific lease agreement between the property owner, known as the lessor, and the lessee, who has secured the rights to explore and extract oil and gas reserves. The overriding royalty interest is the portion of the revenue that the assignee (the party receiving the assignment) is entitled to, which is generally calculated as a percentage. By reserving the right to pool, the assignee ensures the ability to combine the leased property's resources with nearby properties in a process known as unitization or pooling. Pooling allows for more efficient extraction and increased production by consolidating smaller leaseholds into a larger unit, therefore enabling better utilization of resources. Different types or variations of Louisiana Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) may include: 1. "Louisiana Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) — Mineral Rights": This variant explicitly focuses on the overriding royalty interest related to mineral rights, emphasizing the assignee's entitlement to a share of revenue from oil, gas, or other mineral production. 2. "Louisiana Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) — Shale Play": In cases where the leased property is situated within a shale play, such as the Hayesville Shale, this variation highlights the relevance of the assignment in connection with the particular characteristics and potential of shale formations. 3. "Louisiana Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) — Offshore Leases": This type of assignment is tailored to offshore properties, indicating that the lease is located in Louisiana's coastal waters or federal offshore areas governed by state and federal regulations. It is important to consult with legal professionals familiar with Louisiana oil and gas laws to ensure the accurate drafting, execution, and understanding of the specific terms and conditions of any assignment related to overriding royalty interests in non-producing, single lease properties that reserves the right to pool.