Rhode Island 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. Rhode Island Assignment of Overriding Royalty Interest Limited As to Depth is a legal document that deals with the transfer of certain rights and interests in an oil or gas property to another party. This document is particularly important in the oil and gas industry, as it determines the rights and royalties associated with the exploration and extraction of natural resources. Keywords: Rhode Island, Assignment, Overriding Royalty Interest, Limited As to Depth, oil and gas property, rights and interests, royalties, exploration, extraction, natural resources. Types of Rhode Island Assignment of Overriding Royalty Interest Limited As to Depth: 1. Partial Assignment: This type of assignment involves the transfer of a specific portion or percentage of the overriding royalty interest. It may be limited to a certain depth, meaning that the assigned party only receives royalties from the oil or gas extracted from a specific depth zone. 2. Depth-Limited Assignment: In this type, the assignment is limited to a specific depth zone within the oil or gas property. The assignee will only receive royalties from the extracted resources within this depth range, while the assignor retains the rights to royalties from other depths. 3. Time-Limited Assignment: This assignment restricts the overriding royalty interest to a specific time period. It may be tied to a lease term or a fixed number of years. Once the time period elapses, the assignor regains full control of the overriding royalties. 4. Assignment for a Specific Well: This type of assignment focuses on a particular well within the oil or gas property. The assignee will receive a percentage of the overriding royalties generated from that specific well, while the assignor retains the rights to royalties from other wells on the property. 5. Multi-Zone Assignment: This assignment involves the transfer of overriding royalty interest across multiple depth zones or wells within the property. It allows for a broader scope of royalties, as the assignee will receive a percentage of royalties from various depths or wells. Each type of Rhode Island Assignment of Overriding Royalty Interest Limited As to Depth has specific provisions and conditions that outline the rights, limitations, and responsibilities of both the assignor and assignee. It is critical for all parties involved to have a thorough understanding of the document's terms and implications before entering into any agreement. Seeking legal advice is strongly recommended ensuring compliance with Rhode Island's laws and regulations surrounding such assignments.

Rhode Island Assignment of Overriding Royalty Interest Limited As to Depth is a legal document that deals with the transfer of certain rights and interests in an oil or gas property to another party. This document is particularly important in the oil and gas industry, as it determines the rights and royalties associated with the exploration and extraction of natural resources. Keywords: Rhode Island, Assignment, Overriding Royalty Interest, Limited As to Depth, oil and gas property, rights and interests, royalties, exploration, extraction, natural resources. Types of Rhode Island Assignment of Overriding Royalty Interest Limited As to Depth: 1. Partial Assignment: This type of assignment involves the transfer of a specific portion or percentage of the overriding royalty interest. It may be limited to a certain depth, meaning that the assigned party only receives royalties from the oil or gas extracted from a specific depth zone. 2. Depth-Limited Assignment: In this type, the assignment is limited to a specific depth zone within the oil or gas property. The assignee will only receive royalties from the extracted resources within this depth range, while the assignor retains the rights to royalties from other depths. 3. Time-Limited Assignment: This assignment restricts the overriding royalty interest to a specific time period. It may be tied to a lease term or a fixed number of years. Once the time period elapses, the assignor regains full control of the overriding royalties. 4. Assignment for a Specific Well: This type of assignment focuses on a particular well within the oil or gas property. The assignee will receive a percentage of the overriding royalties generated from that specific well, while the assignor retains the rights to royalties from other wells on the property. 5. Multi-Zone Assignment: This assignment involves the transfer of overriding royalty interest across multiple depth zones or wells within the property. It allows for a broader scope of royalties, as the assignee will receive a percentage of royalties from various depths or wells. Each type of Rhode Island Assignment of Overriding Royalty Interest Limited As to Depth has specific provisions and conditions that outline the rights, limitations, and responsibilities of both the assignor and assignee. It is critical for all parties involved to have a thorough understanding of the document's terms and implications before entering into any agreement. Seeking legal advice is strongly recommended ensuring compliance with Rhode Island's laws and regulations surrounding such assignments.