The New Mexico Assignment of After Payout Interest is a legal document that allows the transfer of rights and interests in the revenue generated from oil and gas production after the payout stage. This assignment is commonly used in the oil and gas industry to facilitate the transfer of rights and interests to another party. In New Mexico, there are two main types of Assignment of After Payout Interest: 1. Overriding Royalty Assignment: This type of assignment involves the transfer of a percentage of revenue generated from oil and gas production after the payout stage. The assignor (original interest holder) assigns a certain percentage of their revenue to the assignee (new interest holder). This type of assignment is often used to enable a third party to share in the profits of a producing well without assuming the associated costs and risks. 2. Working Interest Assignment: This type of assignment involves the transfer of ownership of a working interest in oil and gas production after the payout stage. The assignor transfers their ownership rights to the assignee, who then becomes responsible for a portion of the associated costs and risks of the production. This type of assignment is commonly used when a party wants to divest their interest or when a new party wants to acquire an operating interest in a producing well. The New Mexico Assignment of After Payout Interest is a crucial legal document that outlines the terms and conditions of the transfer, including the percentage of revenue or working interest being assigned, the effective date of the assignment, and any other specific agreements between the parties involved. Keywords: New Mexico, Assignment of After Payout Interest, oil and gas production, revenue, transfer of rights and interests, overriding royalty assignment, working interest assignment, assignor, assignee, ownership rights, producing well, associated costs, risks, legal document, terms and conditions.
New Mexico Assignment of After Payout Interest
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How to fill out New Mexico Assignment Of After Payout Interest?
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