This form is used when an Assignor was granted the right to receive, at payout, a certain reversionary working interest in the Lease. Payout has not occurred, and Assignor is vested with beneficial ownership of the Interest in the Leases and Lands. The purpose of this Assignment and the intention of Assignor is to assign to Assignee, the Interest.
A Nebraska Assignment of a Diversionary Working Interest is a legal document that transfers a specific portion or percentage of a working interest in an oil or gas lease located in Nebraska from one party (the assignor) to another (the assignee). This assignment is often executed when the assignor wishes to sell or transfer their rights and interests in the leased property to the assignee. In the oil and gas industry, a working interest refers to an ownership interest in the operation and production of a mineral lease. It entitles the owner to a share of the costs, revenues, and resources generated from the project. A diversionary working interest, specifically in Nebraska, involves the transfer of the remaining working interest after an earlier working interest has ceased or been terminated. Nebraska, like many other states, has its own set of regulations and legal requirements concerning the assignment of a diversionary working interest. The document must adhere to the specific laws and guidelines of the Nebraska Oil and Gas Conservation Commission and satisfy all statutory requirements for a valid assignment. It is crucial for both the assignor and assignee to understand these regulations to ensure a smooth and legal transfer of rights. The Nebraska Assignment of a Diversionary Working Interest typically includes essential details such as the names and addresses of the assignor and assignee, a description of the leased property, the percentage or portion of the working interest being assigned, the effective date of the assignment, and any additional terms or conditions agreed upon by both parties. By including these specifics, the assignment document provides clarity and prevents any future disputes regarding the transferred interests. Different types of Nebraska Assignment of a Diversionary Working Interest may include partial assignments, where the assignor transfers only a portion or percentage of their working interest, or full assignments, where the assignor transfers their entire working interest in the lease to the assignee. These assignments can also be temporary or permanent, depending on the terms agreed upon by the parties involved. Overall, a Nebraska Assignment of a Diversionary Working Interest serves as a legally binding agreement between the assignor and assignee, facilitating the transfer of ownership rights and responsibilities associated with a working interest in an oil or gas lease located in Nebraska. It is essential for all parties involved to consult legal professionals experienced in oil and gas law and thoroughly review the assignment document to ensure compliance with Nebraska state regulations and protect their respective interests.A Nebraska Assignment of a Diversionary Working Interest is a legal document that transfers a specific portion or percentage of a working interest in an oil or gas lease located in Nebraska from one party (the assignor) to another (the assignee). This assignment is often executed when the assignor wishes to sell or transfer their rights and interests in the leased property to the assignee. In the oil and gas industry, a working interest refers to an ownership interest in the operation and production of a mineral lease. It entitles the owner to a share of the costs, revenues, and resources generated from the project. A diversionary working interest, specifically in Nebraska, involves the transfer of the remaining working interest after an earlier working interest has ceased or been terminated. Nebraska, like many other states, has its own set of regulations and legal requirements concerning the assignment of a diversionary working interest. The document must adhere to the specific laws and guidelines of the Nebraska Oil and Gas Conservation Commission and satisfy all statutory requirements for a valid assignment. It is crucial for both the assignor and assignee to understand these regulations to ensure a smooth and legal transfer of rights. The Nebraska Assignment of a Diversionary Working Interest typically includes essential details such as the names and addresses of the assignor and assignee, a description of the leased property, the percentage or portion of the working interest being assigned, the effective date of the assignment, and any additional terms or conditions agreed upon by both parties. By including these specifics, the assignment document provides clarity and prevents any future disputes regarding the transferred interests. Different types of Nebraska Assignment of a Diversionary Working Interest may include partial assignments, where the assignor transfers only a portion or percentage of their working interest, or full assignments, where the assignor transfers their entire working interest in the lease to the assignee. These assignments can also be temporary or permanent, depending on the terms agreed upon by the parties involved. Overall, a Nebraska Assignment of a Diversionary Working Interest serves as a legally binding agreement between the assignor and assignee, facilitating the transfer of ownership rights and responsibilities associated with a working interest in an oil or gas lease located in Nebraska. It is essential for all parties involved to consult legal professionals experienced in oil and gas law and thoroughly review the assignment document to ensure compliance with Nebraska state regulations and protect their respective interests.
