New Mexico 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. Keywords: New Mexico, assignment, overriding royalty interest, working interest owner, single lease, stated percentage. A New Mexico Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage, refers to a legal document that transfers a portion of the royalty interest owned by the working interest owner to another party. This assignment is specific to New Mexico, which is known for its rich oil and gas reserves. The overriding royalty interest is a type of royalty interest that allows the holder to receive a percentage of the revenue generated from the production of oil or gas from a specific lease. The working interest owner, who has the right to explore and develop the lease, may assign a portion of their overriding royalty interest to another party. This assignment is applicable to single leases, meaning that it pertains to a specific leasehold interest rather than multiple leases. It allows the working interest owner to transfer a stated percentage of their overriding royalty interest to the assignee. The stated percentage represents the exact portion of the royalty interest being assigned. Different variations of the New Mexico Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage may exist depending on specific circumstances. These variations could include different stated percentages, where the assignor transfers different portions of their overriding royalty interest to multiple assignees. Furthermore, there may be variations in terms of the assignment's duration, where the parties involved may agree on a fixed term during which the assignee will receive the assigned overriding royalty interest. Alternatively, the assignment may be perpetual, meaning that the assignee will continue to receive the stated percentage for the duration of the lease's life. It's important to note that the New Mexico Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage should adhere to the laws and regulations of New Mexico and comply with any additional requirements set forth by the governing authorities. Additionally, it is always recommended consulting legal professionals experienced in oil and gas transactions to ensure the assignment accurately reflects the intentions and interests of the parties involved.

Keywords: New Mexico, assignment, overriding royalty interest, working interest owner, single lease, stated percentage. A New Mexico Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage, refers to a legal document that transfers a portion of the royalty interest owned by the working interest owner to another party. This assignment is specific to New Mexico, which is known for its rich oil and gas reserves. The overriding royalty interest is a type of royalty interest that allows the holder to receive a percentage of the revenue generated from the production of oil or gas from a specific lease. The working interest owner, who has the right to explore and develop the lease, may assign a portion of their overriding royalty interest to another party. This assignment is applicable to single leases, meaning that it pertains to a specific leasehold interest rather than multiple leases. It allows the working interest owner to transfer a stated percentage of their overriding royalty interest to the assignee. The stated percentage represents the exact portion of the royalty interest being assigned. Different variations of the New Mexico Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage may exist depending on specific circumstances. These variations could include different stated percentages, where the assignor transfers different portions of their overriding royalty interest to multiple assignees. Furthermore, there may be variations in terms of the assignment's duration, where the parties involved may agree on a fixed term during which the assignee will receive the assigned overriding royalty interest. Alternatively, the assignment may be perpetual, meaning that the assignee will continue to receive the stated percentage for the duration of the lease's life. It's important to note that the New Mexico Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage should adhere to the laws and regulations of New Mexico and comply with any additional requirements set forth by the governing authorities. Additionally, it is always recommended consulting legal professionals experienced in oil and gas transactions to ensure the assignment accurately reflects the intentions and interests of the parties involved.