Missouri 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 Missouri Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal agreement that assigns the rights of an overriding royalty interest to a party in the state of Missouri. This particular type of assignment applies to non-producing leases and explicitly reserves the right to pool. An overriding royalty interest refers to a percentage of the revenue generated from the production of oil, gas, or other minerals from a specific leased property. It is created when the landlord or mineral rights' owner grants a portion of their interest to a third party, known as the assignee, in exchange for a share in the profits. The Missouri Assignment of Overriding Royalty Interest is specifically designed for non-producing leases, meaning that there is currently no active extraction or production of minerals taking place on the property. This assignment allows the assignee to receive a percentage of future revenues when production eventually commences. Moreover, this assignment is applicable to a single lease, meaning that it involves only one specific lease agreement. It does not extend to multiple leases or properties. Furthermore, the assignment reserves the right to pool. Pooling refers to the process of combining multiple leasehold interests in order to optimize the production of oil, gas, or other minerals. By reserving the right to pool, the assignor retains the ability to join their leased property with adjacent or neighboring properties for more efficient extraction. It is important to note that there may be other types of Missouri Assignment of Overriding Royalty Interest, such as those applicable to different lease types, producing leases, or assignments that do not reserve the right to pool. However, within the specified parameters of non-producing, single lease, and the reservation of the right to pool, the Missouri Assignment of Overriding Royalty Interest ensures that the assignee has a stake in future production revenues while upholding the assignor's options for pooling.

The Missouri Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal agreement that assigns the rights of an overriding royalty interest to a party in the state of Missouri. This particular type of assignment applies to non-producing leases and explicitly reserves the right to pool. An overriding royalty interest refers to a percentage of the revenue generated from the production of oil, gas, or other minerals from a specific leased property. It is created when the landlord or mineral rights' owner grants a portion of their interest to a third party, known as the assignee, in exchange for a share in the profits. The Missouri Assignment of Overriding Royalty Interest is specifically designed for non-producing leases, meaning that there is currently no active extraction or production of minerals taking place on the property. This assignment allows the assignee to receive a percentage of future revenues when production eventually commences. Moreover, this assignment is applicable to a single lease, meaning that it involves only one specific lease agreement. It does not extend to multiple leases or properties. Furthermore, the assignment reserves the right to pool. Pooling refers to the process of combining multiple leasehold interests in order to optimize the production of oil, gas, or other minerals. By reserving the right to pool, the assignor retains the ability to join their leased property with adjacent or neighboring properties for more efficient extraction. It is important to note that there may be other types of Missouri Assignment of Overriding Royalty Interest, such as those applicable to different lease types, producing leases, or assignments that do not reserve the right to pool. However, within the specified parameters of non-producing, single lease, and the reservation of the right to pool, the Missouri Assignment of Overriding Royalty Interest ensures that the assignee has a stake in future production revenues while upholding the assignor's options for pooling.