Mississippi 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. Mississippi Assignment of Overriding Royalty Interest Limited As to Depth is a legal instrument that allows the assignment of a portion of the royalty interest associated with the development and production of oil and gas resources in a specific geographical area in Mississippi. The assignment is restricted to a specific depth range, limiting the assigned interest to the oil and gas formations located within that depth range. In Mississippi, there are different types of Assignment of Overriding Royalty Interest Limited As to Depth, including: 1. Primary Mississippi Assignment of Overriding Royalty Interest Limited As to Depth: This type of assignment pertains to the primary interest in the assigned depth range. It allows the assignment of the overriding royalty interest for the development and production of oil and gas reserves within the specified depth. 2. Secondary Mississippi Assignment of Overriding Royalty Interest Limited As to Depth: This type of assignment comes into effect when the primary assignment has reached its limit or expired. It grants the assignee a secondary interest in the depth range, allowing them to receive a portion of the royalty from any further development and production activities. 3. Tertiary Mississippi Assignment of Overriding Royalty Interest Limited As to Depth: If both the primary and secondary assignments have expired or reached their limits, a tertiary assignment may be executed. This grants the assignee a tertiary interest in the depth range, allowing them to receive a part of the royalty associated with any future development and extraction of oil and gas within the assigned depth. It is crucial to note that the Assignment of Overriding Royalty Interest Limited As to Depth is subject to specific terms and conditions, which may include restrictions on the geographical area, duration, and depth range of the assignment. The assignee may receive periodic royalty payments based on their assigned interest and the production from the designated depth range. The Mississippi Assignment of Overriding Royalty Interest Limited As to Depth provides a mechanism for individuals or entities to participate in the economic benefits of oil and gas production without undertaking the operational and financial responsibilities associated with exploration and development.

Mississippi Assignment of Overriding Royalty Interest Limited As to Depth is a legal instrument that allows the assignment of a portion of the royalty interest associated with the development and production of oil and gas resources in a specific geographical area in Mississippi. The assignment is restricted to a specific depth range, limiting the assigned interest to the oil and gas formations located within that depth range. In Mississippi, there are different types of Assignment of Overriding Royalty Interest Limited As to Depth, including: 1. Primary Mississippi Assignment of Overriding Royalty Interest Limited As to Depth: This type of assignment pertains to the primary interest in the assigned depth range. It allows the assignment of the overriding royalty interest for the development and production of oil and gas reserves within the specified depth. 2. Secondary Mississippi Assignment of Overriding Royalty Interest Limited As to Depth: This type of assignment comes into effect when the primary assignment has reached its limit or expired. It grants the assignee a secondary interest in the depth range, allowing them to receive a portion of the royalty from any further development and production activities. 3. Tertiary Mississippi Assignment of Overriding Royalty Interest Limited As to Depth: If both the primary and secondary assignments have expired or reached their limits, a tertiary assignment may be executed. This grants the assignee a tertiary interest in the depth range, allowing them to receive a part of the royalty associated with any future development and extraction of oil and gas within the assigned depth. It is crucial to note that the Assignment of Overriding Royalty Interest Limited As to Depth is subject to specific terms and conditions, which may include restrictions on the geographical area, duration, and depth range of the assignment. The assignee may receive periodic royalty payments based on their assigned interest and the production from the designated depth range. The Mississippi Assignment of Overriding Royalty Interest Limited As to Depth provides a mechanism for individuals or entities to participate in the economic benefits of oil and gas production without undertaking the operational and financial responsibilities associated with exploration and development.