Oklahoma Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty - Long Form

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• Control #: US-OG-518
• 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, convertible to a working interest. An Oklahoma Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form is a legal document that transfers the rights to a portion of royalty interest from the working interest owner to another party. This assignment can involve multiple leases and is executed with a limited warranty, providing some assurances to the assignee. In the oil and gas industry, assigning overriding royalty interest (ORRIS) is a common practice that allows the assignee to receive a portion of the revenue generated from the production of oil or gas. The working interest owner, who bears the cost and risk of drilling and operating the well, can transfer a portion of their royalty interest through this assignment. The Oklahoma Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form document outlines the terms, conditions, and parties involved in the assignment. It includes details such as the effective date of the assignment, the description of the leases involved, the percentage of the ORRIS being assigned, and any limitations or restrictions applicable to the assignment. Keywords: Oklahoma, assignment, overriding royalty interest, working interest, multiple leases, limited warranty, long form, oil and gas industry, revenue, production, effective date, leases, percentage, limitations, restrictions. Different types of Oklahoma Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form may include specific variations or clauses tailored to different scenarios. Some potential variations of this assignment could include: 1. Oklahoma Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form for Deepwater Leases: This document would focus on assignments related to leases located in deepwater areas, highlighting any additional considerations or risks associated with drilling and producing from such locations. 2. Oklahoma Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form for Shale Leases: Shale formations have unique characteristics that require specialized techniques for extraction. This type of assignment would address the specific complexities and provisions associated with shale leases. 3. Oklahoma Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form for Horizontal Wells: As horizontal drilling becomes more prevalent in the oil and gas industry, this assignment would cater to the particular requirements and challenges associated with drilling and producing from horizontal wells. 4. Oklahoma Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form for Enhanced Recovery Projects: Some oil and gas fields require enhanced recovery techniques, such as water flooding or carbon dioxide injection, to extract maximum reserves. This assignment would focus on such projects and the specific implications they have on royalty interests and assignments. Note: The above variations are hypothetical examples. The actual types of Oklahoma Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form would depend on industry practices, legal requirements, and specific circumstances.

An Oklahoma Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form is a legal document that transfers the rights to a portion of royalty interest from the working interest owner to another party. This assignment can involve multiple leases and is executed with a limited warranty, providing some assurances to the assignee. In the oil and gas industry, assigning overriding royalty interest (ORRIS) is a common practice that allows the assignee to receive a portion of the revenue generated from the production of oil or gas. The working interest owner, who bears the cost and risk of drilling and operating the well, can transfer a portion of their royalty interest through this assignment. The Oklahoma Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form document outlines the terms, conditions, and parties involved in the assignment. It includes details such as the effective date of the assignment, the description of the leases involved, the percentage of the ORRIS being assigned, and any limitations or restrictions applicable to the assignment. Keywords: Oklahoma, assignment, overriding royalty interest, working interest, multiple leases, limited warranty, long form, oil and gas industry, revenue, production, effective date, leases, percentage, limitations, restrictions. Different types of Oklahoma Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form may include specific variations or clauses tailored to different scenarios. Some potential variations of this assignment could include: 1. Oklahoma Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form for Deepwater Leases: This document would focus on assignments related to leases located in deepwater areas, highlighting any additional considerations or risks associated with drilling and producing from such locations. 2. Oklahoma Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form for Shale Leases: Shale formations have unique characteristics that require specialized techniques for extraction. This type of assignment would address the specific complexities and provisions associated with shale leases. 3. Oklahoma Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form for Horizontal Wells: As horizontal drilling becomes more prevalent in the oil and gas industry, this assignment would cater to the particular requirements and challenges associated with drilling and producing from horizontal wells. 4. Oklahoma Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form for Enhanced Recovery Projects: Some oil and gas fields require enhanced recovery techniques, such as water flooding or carbon dioxide injection, to extract maximum reserves. This assignment would focus on such projects and the specific implications they have on royalty interests and assignments. Note: The above variations are hypothetical examples. The actual types of Oklahoma Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form would depend on industry practices, legal requirements, and specific circumstances.