Nevada Assignment of Overriding Royalty Interest Limited As to Depth

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• Control #: US-OG-290
• 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, which is limited to depth. Nevada Assignment of Overriding Royalty Interest Limited As to Depth is a legal document that governs the transfer of ownership rights in an oil or gas lease pertaining to a limited depth range. This agreement is crucial in the oil and gas industry, as it allows operators or companies to assign a portion of their overriding royalty interest (ORRIS) while restricting it to a specific depth zone. In Nevada, there are various types of Assignment of Overriding Royalty Interest Limited As to Depth, including: 1. Full Depth Assignment: — This type of assignment encompasses the entirety of the depth range defined in the lease agreement. The assignor transfers their overriding royalty interest rights, including all depths, to the assignee. 2. Limited Depth Assignment: — In this scenario, the assignor transfers their ORRIS to the assignee, but only for a specific depth range. This may be beneficial if the assignor wants to retain a portion of the royalties from a different depth range or if the assignee is interested in investing in specific depths. 3. Perforation Interval Assignment: — This type of assignment focuses on the specific interval where the well bore is perforated. It allows the assignor to transfer their overriding royalty interest limited to the depth range around the well bore, ensuring that only the assigned interval generates royalties for the assignee. 4. Partial Depth Assignment: — This assignment type offers flexibility not only in terms of the depth range but also in the assigned percentage of the overriding royalty interest. The assignor can transfer a specified portion (e.g., 50%, 75%) of their ORRIS limited to a specific depth range, while retaining the remaining ORRIS or assigning it to different parties. 5. Temporal Depth Assignment: — Temporal depth assignments are time-based, where the overriding royalty interest is transferred to the assignee for a specific period. This assignment can be combined with other types mentioned above to further restrict or define the depth for the duration of the agreement. An Assignment of Overriding Royalty Interest Limited As to Depth document typically includes relevant keywords such as royalty interest, oil lease, gas lease, assignor, assignee, depth range, overriding royalty, leased depths, oil and gas industry, limited depth assignment, and Nevada. These keywords assist in classifying and indexing the document for legal and industry search purposes.

Nevada Assignment of Overriding Royalty Interest Limited As to Depth is a legal document that governs the transfer of ownership rights in an oil or gas lease pertaining to a limited depth range. This agreement is crucial in the oil and gas industry, as it allows operators or companies to assign a portion of their overriding royalty interest (ORRIS) while restricting it to a specific depth zone. In Nevada, there are various types of Assignment of Overriding Royalty Interest Limited As to Depth, including: 1. Full Depth Assignment: — This type of assignment encompasses the entirety of the depth range defined in the lease agreement. The assignor transfers their overriding royalty interest rights, including all depths, to the assignee. 2. Limited Depth Assignment: — In this scenario, the assignor transfers their ORRIS to the assignee, but only for a specific depth range. This may be beneficial if the assignor wants to retain a portion of the royalties from a different depth range or if the assignee is interested in investing in specific depths. 3. Perforation Interval Assignment: — This type of assignment focuses on the specific interval where the well bore is perforated. It allows the assignor to transfer their overriding royalty interest limited to the depth range around the well bore, ensuring that only the assigned interval generates royalties for the assignee. 4. Partial Depth Assignment: — This assignment type offers flexibility not only in terms of the depth range but also in the assigned percentage of the overriding royalty interest. The assignor can transfer a specified portion (e.g., 50%, 75%) of their ORRIS limited to a specific depth range, while retaining the remaining ORRIS or assigning it to different parties. 5. Temporal Depth Assignment: — Temporal depth assignments are time-based, where the overriding royalty interest is transferred to the assignee for a specific period. This assignment can be combined with other types mentioned above to further restrict or define the depth for the duration of the agreement. An Assignment of Overriding Royalty Interest Limited As to Depth document typically includes relevant keywords such as royalty interest, oil lease, gas lease, assignor, assignee, depth range, overriding royalty, leased depths, oil and gas industry, limited depth assignment, and Nevada. These keywords assist in classifying and indexing the document for legal and industry search purposes.