Nevada 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. Nevada Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage is a legal document that is commonly used in the oil and gas industry. This assignment is specifically designed for situations where a working interest owner wants to assign a portion of their overriding royalty interest (ORRIS) in a single lease to another party. The assigned percentage represents the amount of ORRIS that the working interest owner is transferring. Keywords: Nevada, Assignment, Overriding Royalty Interest, Working Interest Owner, Single Lease, Stated Percentage. Types of Nevada Assignment of Overriding Royalty Interest: 1. Pure Cash Assignment: In this type of assignment, the working interest owner transfers their ORRIS to another party in exchange for a cash payment. The assigned percentage represents the portion of the ORRIS being assigned. 2. Royalty Assignment: This type of assignment involves the transfer of ORRIS to another party in exchange for a share of the royalty income generated from the lease. The assigned percentage represents the royalty interest being assigned. 3. Partial Assignment: A partial assignment occurs when the working interest owner transfers only a portion of their ORRIS to another party. The assigned percentage indicates the specific percentage of ORRIS being assigned. 4. Full Assignment: A full assignment occurs when the working interest owner transfers their entire ORRIS in a single lease to another party. The assigned percentage is 100% in this case. 5. Conditional Assignment: This type of assignment includes certain conditions or prerequisites that need to be fulfilled for the transfer of ORRIS to take effect. The assigned percentage will only become effective once these conditions are met. 6. Assignee's Obligations Assignment: In this assignment, the assignee agrees to take on certain obligations related to the ORRIS, such as the responsibility to pay taxes or perform necessary lease maintenance. The assigned percentage represents the ORRIS being transferred, along with these associated obligations. It's important to note that the specific terms and conditions of Nevada Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage can vary depending on the parties involved and their negotiated agreements. Seeking legal advice and guidance is recommended to ensure a comprehensive and accurate assignment document.

Nevada Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage is a legal document that is commonly used in the oil and gas industry. This assignment is specifically designed for situations where a working interest owner wants to assign a portion of their overriding royalty interest (ORRIS) in a single lease to another party. The assigned percentage represents the amount of ORRIS that the working interest owner is transferring. Keywords: Nevada, Assignment, Overriding Royalty Interest, Working Interest Owner, Single Lease, Stated Percentage. Types of Nevada Assignment of Overriding Royalty Interest: 1. Pure Cash Assignment: In this type of assignment, the working interest owner transfers their ORRIS to another party in exchange for a cash payment. The assigned percentage represents the portion of the ORRIS being assigned. 2. Royalty Assignment: This type of assignment involves the transfer of ORRIS to another party in exchange for a share of the royalty income generated from the lease. The assigned percentage represents the royalty interest being assigned. 3. Partial Assignment: A partial assignment occurs when the working interest owner transfers only a portion of their ORRIS to another party. The assigned percentage indicates the specific percentage of ORRIS being assigned. 4. Full Assignment: A full assignment occurs when the working interest owner transfers their entire ORRIS in a single lease to another party. The assigned percentage is 100% in this case. 5. Conditional Assignment: This type of assignment includes certain conditions or prerequisites that need to be fulfilled for the transfer of ORRIS to take effect. The assigned percentage will only become effective once these conditions are met. 6. Assignee's Obligations Assignment: In this assignment, the assignee agrees to take on certain obligations related to the ORRIS, such as the responsibility to pay taxes or perform necessary lease maintenance. The assigned percentage represents the ORRIS being transferred, along with these associated obligations. It's important to note that the specific terms and conditions of Nevada Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage can vary depending on the parties involved and their negotiated agreements. Seeking legal advice and guidance is recommended to ensure a comprehensive and accurate assignment document.