Montana 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.

Montana Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal document that denotes the transfer of a portion or all of the royalty interest from one party to another. This assignment specifically applies to non-producing properties in Montana and involves a single lease, with the assignor retaining the right to pool the property. In Montana, there are various types of Assignment of Overriding Royalty Interest, each serving a specific purpose within the oil and gas industry. Here are some common variations: 1. Montana Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool): This type of assignment pertains to a non-producing property, meaning that there is currently no active extraction or production of oil and gas occurring on the lease. It allows the assignee to receive a percentage of the royalty interest associated with the lease, irrespective of production, while granting the assignor the right to pool the property. Pooling refers to the combining of multiple lease interests into a single production unit for efficient extraction. 2. Montana Assignment of Overriding Royalty Interest (Non-Producing, Multiple Leases, Reserves Right to Pool): This assignment is similar to the previous one but applies to non-producing properties with multiple leases. Here, the assignor transfers the overriding royalty interest on all related leases to the assignee, providing them with a share of the royalty payment for each lease. The assignor retains the right to pool the leases if necessary. 3. Montana Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, No Right to Pool): In contrast to the previous assignments, this type does not grant the assignor the right to pool the property. Instead, it solely focuses on transferring the overriding royalty interest associated with a non-producing property on a single lease. The assignee will receive their share of the royalty payment but cannot pool the lease with other properties. 4. Montana Assignment of Overriding Royalty Interest (Producing, Single Lease, Reserves Right to Pool): This assignment pertains to producing properties in Montana, where oil and gas extraction is actively taking place. It allows the assignor to transfer a portion or all of the overriding royalty interest to the assignee, while retaining the right to pool the lease. By pooling, the assignor can combine the production from the lease with other properties to optimize extraction efficiency. 5. Montana Assignment of Overriding Royalty Interest (Producing, Multiple Leases, Reserves Right to Pool): This type of assignment applies to producing properties with multiple leases in Montana. It enables the assignor to transfer the overriding royalty interest associated with each lease to the assignee. Meanwhile, the assignor retains the right to pool these leases together to maximize production efficiency. In summary, Montana Assignment of Overriding Royalty Interest encompasses various types, depending on factors such as the property's production status, the number of leases involved, and the right to pool the property. These assignments facilitate the transfer of royalty interests while ensuring flexibility and efficiency in the oil and gas industry.