Michigan 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. The Michigan Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal document that involves the transfer of a portion of the royalty interest from a non-producing oil or gas lease in Michigan. This agreement allows the granter to retain the right to pool the lease with other adjoining leases, maximizing the potential for future production and profits. Keywords: Michigan Assignment of Overriding Royalty Interest, non-producing lease, single lease, reserves right to pool, oil and gas, royalty interest, transfer, granter, potential production, profits. Different types of Michigan Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) can include variations based on specific lease agreements, parties involved, and additional provisions. Some possible variations may include: 1. Michigan Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool with Working Interest): This type of assignment involves the transfer of both overriding royalty interest and working interest, allowing the assignee to have an active role in the operations and decision-making of the lease. 2. Michigan Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool with Right of First Refusal): This variation may include a provision where the granter grants the assignee the right of first refusal if they decide to sell or transfer their overriding royalty interest in the future. 3. Michigan Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool with Minimum Royalty): In this scenario, the assignment includes a minimum royalty provision, ensuring that the assignee receives a fixed amount of royalty even if the production from the lease is minimal. 4. Michigan Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool with Re completion Option): This type of assignment gives the granter the right to recompletion, allowing them to rework or enhance the production capabilities of the lease to increase the overall royalty payouts. 5. Michigan Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool with Enhanced Royalty): In this variation, the assignee receives an enhanced royalty percentage compared to the standard rates in exchange for assuming the risk associated with a non-producing lease. These variations showcase how the Michigan Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) can be customized to meet the specific needs and preferences of the involved parties.

The Michigan Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal document that involves the transfer of a portion of the royalty interest from a non-producing oil or gas lease in Michigan. This agreement allows the granter to retain the right to pool the lease with other adjoining leases, maximizing the potential for future production and profits. Keywords: Michigan Assignment of Overriding Royalty Interest, non-producing lease, single lease, reserves right to pool, oil and gas, royalty interest, transfer, granter, potential production, profits. Different types of Michigan Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) can include variations based on specific lease agreements, parties involved, and additional provisions. Some possible variations may include: 1. Michigan Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool with Working Interest): This type of assignment involves the transfer of both overriding royalty interest and working interest, allowing the assignee to have an active role in the operations and decision-making of the lease. 2. Michigan Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool with Right of First Refusal): This variation may include a provision where the granter grants the assignee the right of first refusal if they decide to sell or transfer their overriding royalty interest in the future. 3. Michigan Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool with Minimum Royalty): In this scenario, the assignment includes a minimum royalty provision, ensuring that the assignee receives a fixed amount of royalty even if the production from the lease is minimal. 4. Michigan Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool with Re completion Option): This type of assignment gives the granter the right to recompletion, allowing them to rework or enhance the production capabilities of the lease to increase the overall royalty payouts. 5. Michigan Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool with Enhanced Royalty): In this variation, the assignee receives an enhanced royalty percentage compared to the standard rates in exchange for assuming the risk associated with a non-producing lease. These variations showcase how the Michigan Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) can be customized to meet the specific needs and preferences of the involved parties.