North Dakota 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. The North Dakota Assignment of Overriding Royalty Interest Limited As to Depth is a legal agreement that pertains to the ownership of mineral rights in the state of North Dakota. This contractual arrangement allows individuals or entities to transfer or assign their overriding royalty interests to another party, but with certain limitations regarding the depth of the minerals covered. When it comes to the types of North Dakota Assignment of Overriding Royalty Interest Limited As to Depth, there can be several variations based on specific conditions and provisions. These may include: 1. Specific Depth Limitation: This type of agreement restricts the overriding royalty interest assignment to a particular depth or range of depths. For instance, the assignee may only receive royalties from minerals extracted at depths below a specified level. 2. Multiple-Depth Ranges: In some cases, the North Dakota Assignment of Overriding Royalty Interest Limited As to Depth may involve multiple depth ranges. This means that the assignment can encompass different depths for various minerals. For example, the assignor may assign the overriding royalty interest limited to depths between 1,000 and 5,000 feet for oil, whereas for natural gas, the limitation could be set between 1,000 and 3,000 feet. 3. Depth Restriction Amendments: This type of assignment allows for future amendments or modifications to the depth limitations. Parties involved can agree to adjust the depth restrictions either by expanding or contracting the depth ranges covered by the overriding royalty interest. 4. Variable Depth Limits: Another variant of the North Dakota Assignment of Overriding Royalty Interest Limited As to Depth includes variable depth limits. This means that the depth limitation can change based on certain conditions, such as changes in technology, market conditions, or drilling advancements. It is essential to carefully draft the North Dakota Assignment of Overriding Royalty Interest Limited As to Depth to ensure that all parties involved clearly understand the limitations and rights associated with the assignment. This legal document plays a crucial role in defining the scope of ownership and the potential benefits derived from the mineral rights in North Dakota.

The North Dakota Assignment of Overriding Royalty Interest Limited As to Depth is a legal agreement that pertains to the ownership of mineral rights in the state of North Dakota. This contractual arrangement allows individuals or entities to transfer or assign their overriding royalty interests to another party, but with certain limitations regarding the depth of the minerals covered. When it comes to the types of North Dakota Assignment of Overriding Royalty Interest Limited As to Depth, there can be several variations based on specific conditions and provisions. These may include: 1. Specific Depth Limitation: This type of agreement restricts the overriding royalty interest assignment to a particular depth or range of depths. For instance, the assignee may only receive royalties from minerals extracted at depths below a specified level. 2. Multiple-Depth Ranges: In some cases, the North Dakota Assignment of Overriding Royalty Interest Limited As to Depth may involve multiple depth ranges. This means that the assignment can encompass different depths for various minerals. For example, the assignor may assign the overriding royalty interest limited to depths between 1,000 and 5,000 feet for oil, whereas for natural gas, the limitation could be set between 1,000 and 3,000 feet. 3. Depth Restriction Amendments: This type of assignment allows for future amendments or modifications to the depth limitations. Parties involved can agree to adjust the depth restrictions either by expanding or contracting the depth ranges covered by the overriding royalty interest. 4. Variable Depth Limits: Another variant of the North Dakota Assignment of Overriding Royalty Interest Limited As to Depth includes variable depth limits. This means that the depth limitation can change based on certain conditions, such as changes in technology, market conditions, or drilling advancements. It is essential to carefully draft the North Dakota Assignment of Overriding Royalty Interest Limited As to Depth to ensure that all parties involved clearly understand the limitations and rights associated with the assignment. This legal document plays a crucial role in defining the scope of ownership and the potential benefits derived from the mineral rights in North Dakota.