New Jersey 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. New Jersey 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 their overriding royalty interest in an oil, gas, or mineral lease to another party. This assignment is commonly used in the energy industry to efficiently manage and distribute ownership and interest rights. Keywords: 1. New Jersey: This document is specific to the state of New Jersey, and it adheres to the state's laws and regulations regarding oil, gas, and mineral leases. 2. Assignment: This refers to the act of transferring or assigning ownership rights and interests from one party to another. 3. Overriding Royalty Interest: It is an interest in the production of oil, gas, or minerals that is separate from the usual working interest. This interest is typically based on a percentage of the gross production and is often free of the costs of drilling and operating the well. 4. Working Interest Owner: This refers to the individual or entity that holds a working interest in an oil, gas, or mineral lease. They are responsible for contributing to the costs of drilling, maintaining, and operating the well, and they also have the right to a share of the production. 5. Single Lease: This signifies that the overriding royalty interest being assigned is associated with a single lease. It means that the assignment specifically relates to the rights and interests in that particular lease for a specific duration. 6. Stated Percentage: This denotes the exact percentage of the overriding royalty interest being assigned by the working interest owner. It signifies the share of the production that will be received by the assignee. Types of Assignments: 1. New Jersey Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage with Cash Consideration: This type of assignment involves the transfer of the overriding royalty interest in exchange for a monetary payment or cash consideration. 2. New Jersey Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage without Cash Consideration: In this scenario, the transfer of the overriding royalty interest takes place without any financial compensation. It could occur through a gift, inheritance, or as part of a larger business transaction. 3. New Jersey Assignment of Overriding Royalty Interest in Working Interest Owner, Multiple Leases, Stated Percentage: This type of assignment involves the transfer of overriding royalty interest across multiple leases, indicating that the assignee will receive a share of production from multiple oil, gas, or mineral leases simultaneously.

New Jersey 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 their overriding royalty interest in an oil, gas, or mineral lease to another party. This assignment is commonly used in the energy industry to efficiently manage and distribute ownership and interest rights. Keywords: 1. New Jersey: This document is specific to the state of New Jersey, and it adheres to the state's laws and regulations regarding oil, gas, and mineral leases. 2. Assignment: This refers to the act of transferring or assigning ownership rights and interests from one party to another. 3. Overriding Royalty Interest: It is an interest in the production of oil, gas, or minerals that is separate from the usual working interest. This interest is typically based on a percentage of the gross production and is often free of the costs of drilling and operating the well. 4. Working Interest Owner: This refers to the individual or entity that holds a working interest in an oil, gas, or mineral lease. They are responsible for contributing to the costs of drilling, maintaining, and operating the well, and they also have the right to a share of the production. 5. Single Lease: This signifies that the overriding royalty interest being assigned is associated with a single lease. It means that the assignment specifically relates to the rights and interests in that particular lease for a specific duration. 6. Stated Percentage: This denotes the exact percentage of the overriding royalty interest being assigned by the working interest owner. It signifies the share of the production that will be received by the assignee. Types of Assignments: 1. New Jersey Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage with Cash Consideration: This type of assignment involves the transfer of the overriding royalty interest in exchange for a monetary payment or cash consideration. 2. New Jersey Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage without Cash Consideration: In this scenario, the transfer of the overriding royalty interest takes place without any financial compensation. It could occur through a gift, inheritance, or as part of a larger business transaction. 3. New Jersey Assignment of Overriding Royalty Interest in Working Interest Owner, Multiple Leases, Stated Percentage: This type of assignment involves the transfer of overriding royalty interest across multiple leases, indicating that the assignee will receive a share of production from multiple oil, gas, or mineral leases simultaneously.