Maine 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. Maine Assignment of Overriding Royalty Interest Limited As to Depth refers to a legal document used in the state of Maine to transfer the rights of overriding royalty interests (ORI's) with specific depth limitations. This assignment provides a detailed description and understanding of the terms and conditions associated with the transfer of ORI's. An overriding royalty interest is a right to receive a percentage of the revenue generated from the production and extraction of minerals, oil, or gas from a specific property. It is often carved out of the working interest, which is the interest held by the operator or leaseholder of the property. The Maine Assignment of Overriding Royalty Interest Limited As to Depth outlines the details of the assignment, including the parties involved, the property description, and the specific depth limitations. It further elaborates on the terms, obligations, and restrictions related to the assigned ORI's. One type of Maine Assignment of Overriding Royalty Interest Limited As to Depth concerns assignments with depth limitations based on geological formations. For instance, it may stipulate that the assigned ORI's only apply to specific depths, excluding other formations or areas within the property. Another type could be assignments with depth limitations based on well or drilling depths. In such cases, the assignment may define the assigned ORI's by specifying that they only apply to wells drilled up to a certain depth, ensuring that the assignment does not extend beyond the designated depth range. Keywords: Maine Assignment of Overriding Royalty Interest, limited as to depth, ORI, overriding royalty interest, legal document, transfer of rights, revenue, minerals, oil, gas, property, working interest, operator, leaseholder, parties involved, property description, depth limitations, geological formations, well depths, drilling depths, terms, obligations, restrictions.

Maine Assignment of Overriding Royalty Interest Limited As to Depth refers to a legal document used in the state of Maine to transfer the rights of overriding royalty interests (ORI's) with specific depth limitations. This assignment provides a detailed description and understanding of the terms and conditions associated with the transfer of ORI's. An overriding royalty interest is a right to receive a percentage of the revenue generated from the production and extraction of minerals, oil, or gas from a specific property. It is often carved out of the working interest, which is the interest held by the operator or leaseholder of the property. The Maine Assignment of Overriding Royalty Interest Limited As to Depth outlines the details of the assignment, including the parties involved, the property description, and the specific depth limitations. It further elaborates on the terms, obligations, and restrictions related to the assigned ORI's. One type of Maine Assignment of Overriding Royalty Interest Limited As to Depth concerns assignments with depth limitations based on geological formations. For instance, it may stipulate that the assigned ORI's only apply to specific depths, excluding other formations or areas within the property. Another type could be assignments with depth limitations based on well or drilling depths. In such cases, the assignment may define the assigned ORI's by specifying that they only apply to wells drilled up to a certain depth, ensuring that the assignment does not extend beyond the designated depth range. Keywords: Maine Assignment of Overriding Royalty Interest, limited as to depth, ORI, overriding royalty interest, legal document, transfer of rights, revenue, minerals, oil, gas, property, working interest, operator, leaseholder, parties involved, property description, depth limitations, geological formations, well depths, drilling depths, terms, obligations, restrictions.