Oregon Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool)

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• Control #: US-OG-940
• Format: Word; Rich Text

Description

This form is an assignment of overriding royalty interest for a non-producing, single lease with reserves the right to pool. An Oregon Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal agreement that grants the assignment of a portion of the revenues generated from oil, gas, or mineral production on a specific lease in Oregon. This type of assignment is typically used when the assigned interest is not currently producing any resources but holds the potential for future development. The overriding royalty interest refers to a share of the production or revenues that is distinct from the regular royalty interest, which is usually owned by the lessor of the lease. The assignment allows an individual or entity to acquire this overriding royalty interest, entitling them to a percentage of the gross income generated by the lease. In the case of the Oregon Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool), it includes an additional provision that reserves the right to pool the assigned interest. Pooling refers to the practice of combining multiple leases or tracts of land to optimize production efficiency and extract resources more effectively. This provision ensures that the assignment includes the right to participate in future pooling activities if deemed necessary. Different types of Oregon Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) may exist based on specific variations in the terms and conditions. The assignment can vary in the percentage of overriding royalty interest assigned, the duration of the assignment, and the specific language surrounding the right to pool. In summary, an Oregon Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal agreement allowing the transfer of a non-producing overriding royalty interest on a single lease in Oregon, while also reserving the right to participate in future pooling activities. This type of assignment provides an opportunity for investors or parties interested in potential future developments to acquire a share of the lease's revenues.

An Oregon Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal agreement that grants the assignment of a portion of the revenues generated from oil, gas, or mineral production on a specific lease in Oregon. This type of assignment is typically used when the assigned interest is not currently producing any resources but holds the potential for future development. The overriding royalty interest refers to a share of the production or revenues that is distinct from the regular royalty interest, which is usually owned by the lessor of the lease. The assignment allows an individual or entity to acquire this overriding royalty interest, entitling them to a percentage of the gross income generated by the lease. In the case of the Oregon Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool), it includes an additional provision that reserves the right to pool the assigned interest. Pooling refers to the practice of combining multiple leases or tracts of land to optimize production efficiency and extract resources more effectively. This provision ensures that the assignment includes the right to participate in future pooling activities if deemed necessary. Different types of Oregon Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) may exist based on specific variations in the terms and conditions. The assignment can vary in the percentage of overriding royalty interest assigned, the duration of the assignment, and the specific language surrounding the right to pool. In summary, an Oregon Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal agreement allowing the transfer of a non-producing overriding royalty interest on a single lease in Oregon, while also reserving the right to participate in future pooling activities. This type of assignment provides an opportunity for investors or parties interested in potential future developments to acquire a share of the lease's revenues.