New Jersey 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. New Jersey Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal document that transfers the ownership of a non-producing overriding royalty interest from one party to another in the state of New Jersey. This type of assignment allows the assignee to collect a percentage of future revenue generated from an oil, gas, or mineral lease without being involved in the operations of the lease. Keywords: New Jersey, assignment, overriding royalty interest, non-producing, single lease, reserves right to pool. There are a few different types of New Jersey Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) that cater to specific situations: 1. Non-Producing Assignment: This type of assignment applies when the leased property is not currently producing any oil, gas, or minerals. The assignor transfers their overriding royalty interest to the assignee, who then assumes the rights and benefits associated with the interest. 2. Single Lease Assignment: This assignment pertains to a specific lease agreement related to the property. It details the transfer of the overriding royalty interest for that particular lease, ensuring that the assignee receives the assigned percentage of revenue generated from that lease alone. 3. Reserves Right to Pool Assignment: This assignment includes a provision that allows the assignor to reserve the right to pool their overriding royalty interest with other interests or leases in the future. It provides flexibility in case the assignor wishes to combine their interest with others to optimize production or exploration efforts. In summary, the New Jersey Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal document used to transfer a non-producing overriding royalty interest from one party to another. It specifies the rights and obligations of both the assignor and assignee and can be tailored to different scenarios, such as non-producing properties, single lease assignments, and reserving the right to pool interests.

New Jersey Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal document that transfers the ownership of a non-producing overriding royalty interest from one party to another in the state of New Jersey. This type of assignment allows the assignee to collect a percentage of future revenue generated from an oil, gas, or mineral lease without being involved in the operations of the lease. Keywords: New Jersey, assignment, overriding royalty interest, non-producing, single lease, reserves right to pool. There are a few different types of New Jersey Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) that cater to specific situations: 1. Non-Producing Assignment: This type of assignment applies when the leased property is not currently producing any oil, gas, or minerals. The assignor transfers their overriding royalty interest to the assignee, who then assumes the rights and benefits associated with the interest. 2. Single Lease Assignment: This assignment pertains to a specific lease agreement related to the property. It details the transfer of the overriding royalty interest for that particular lease, ensuring that the assignee receives the assigned percentage of revenue generated from that lease alone. 3. Reserves Right to Pool Assignment: This assignment includes a provision that allows the assignor to reserve the right to pool their overriding royalty interest with other interests or leases in the future. It provides flexibility in case the assignor wishes to combine their interest with others to optimize production or exploration efforts. In summary, the New Jersey Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal document used to transfer a non-producing overriding royalty interest from one party to another. It specifies the rights and obligations of both the assignor and assignee and can be tailored to different scenarios, such as non-producing properties, single lease assignments, and reserving the right to pool interests.