North Dakota Assignment of Overriding Royalty Interest by Working Interest Owner, Single Lease, Stated Percentage

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• Control #: US-OG-287
• 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. A North Dakota Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage is a legal document that allows a working interest owner to transfer a portion of their share of royalty interest to another party. This assignment is specific to North Dakota and is commonly used in the oil and gas industry. Keywords: North Dakota, Assignment, Overriding Royalty Interest, Working Interest Owner, Single Lease, Stated Percentage. In North Dakota, the oil and gas industry is a significant contributor to the state's economy. It is common for individuals or companies to acquire working interests in oil and gas leases, allowing them to participate in the exploration and production activities. These working interest owners are entitled to a share of the royalties generated from the lease. However, working interest owners may decide to assign a portion of their royalty interest to another party for various reasons, such as minimizing risk or gaining additional capital. This is where the North Dakota Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage comes into play. This specific type of assignment is applicable to a single lease in North Dakota. It allows a working interest owner to transfer a stated percentage of their overriding royalty interest to another individual or entity. The overriding royalty interest refers to a share of royalties that is carved out from the working interest owner's portion and is often free of most of the costs and expenses associated with oil and gas exploration and production. The North Dakota Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage document outlines the key details of the assignment, including: 1. Parties Involved: The document identifies the working interest owner who is assigning a portion of their overriding royalty interest and the recipient of the assigned interest. 2. Lease Description: It provides a detailed description of the lease in North Dakota to which the assignment applies. This may include information such as the location, legal description, and term of the lease. 3. Stated Percentage: The assignment specifies the exact percentage of the overriding royalty interest being transferred. This percentage can vary depending on the agreement between the parties involved. 4. Consideration: The document typically includes details of any consideration exchanged between the working interest owner and the recipient for the assignment. This could be in the form of a lump sum payment or other agreed-upon compensation. It is important to note that there may be variations or additional types of North Dakota Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage documents. These variations could include specific provisions or modifications tailored to the unique circumstances of the assignment. Consulting with legal professionals experienced in North Dakota oil and gas law is advisable when drafting or reviewing such assignments to ensure compliance with relevant regulations and the protection of the parties' interests.

A North Dakota Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage is a legal document that allows a working interest owner to transfer a portion of their share of royalty interest to another party. This assignment is specific to North Dakota and is commonly used in the oil and gas industry. Keywords: North Dakota, Assignment, Overriding Royalty Interest, Working Interest Owner, Single Lease, Stated Percentage. In North Dakota, the oil and gas industry is a significant contributor to the state's economy. It is common for individuals or companies to acquire working interests in oil and gas leases, allowing them to participate in the exploration and production activities. These working interest owners are entitled to a share of the royalties generated from the lease. However, working interest owners may decide to assign a portion of their royalty interest to another party for various reasons, such as minimizing risk or gaining additional capital. This is where the North Dakota Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage comes into play. This specific type of assignment is applicable to a single lease in North Dakota. It allows a working interest owner to transfer a stated percentage of their overriding royalty interest to another individual or entity. The overriding royalty interest refers to a share of royalties that is carved out from the working interest owner's portion and is often free of most of the costs and expenses associated with oil and gas exploration and production. The North Dakota Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage document outlines the key details of the assignment, including: 1. Parties Involved: The document identifies the working interest owner who is assigning a portion of their overriding royalty interest and the recipient of the assigned interest. 2. Lease Description: It provides a detailed description of the lease in North Dakota to which the assignment applies. This may include information such as the location, legal description, and term of the lease. 3. Stated Percentage: The assignment specifies the exact percentage of the overriding royalty interest being transferred. This percentage can vary depending on the agreement between the parties involved. 4. Consideration: The document typically includes details of any consideration exchanged between the working interest owner and the recipient for the assignment. This could be in the form of a lump sum payment or other agreed-upon compensation. It is important to note that there may be variations or additional types of North Dakota Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage documents. These variations could include specific provisions or modifications tailored to the unique circumstances of the assignment. Consulting with legal professionals experienced in North Dakota oil and gas law is advisable when drafting or reviewing such assignments to ensure compliance with relevant regulations and the protection of the parties' interests.