South Dakota 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. South Dakota Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) refers to a legal document that allows the transfer of an overriding royalty interest in a non-producing oil and gas lease in South Dakota. This assignment gives the assignee the right to receive a percentage of the revenue generated from the lease's production without being responsible for any operating costs. In South Dakota, there may be different types of Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) based on various conditions or clauses included in the agreement. Some key keywords to understand this concept and its variations are: 1. Overriding Royalty Interest: This refers to a fractional interest in the production of oil and gas reserves, typically free of any operating expenses. 2. Non-Producing Lease: This indicates that the assigned lease does not currently produce oil or gas but holds the potential for future development. 3. Single Lease: Denotes that only one specific lease is being assigned for overriding royalty interest rather than a group of leases. 4. Reserves Right to Pool: This allows the assignee to pool or combine their overriding royalty interest with other leases or interests in more efficient production and resource extraction. Some possible variations of South Dakota Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) may include specific clauses regarding the assignment's duration, limitations on pooling, royalty rates, or defined geographical boundaries within South Dakota. It is important for both parties involved, the assignor (original interest holder) and assignee (new overriding royalty interest holder), to carefully review and understand the terms and conditions outlined in the agreement. This ensures the appropriate transfer of rights and responsibilities related to the non-producing lease's future development and revenue generation.

South Dakota Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) refers to a legal document that allows the transfer of an overriding royalty interest in a non-producing oil and gas lease in South Dakota. This assignment gives the assignee the right to receive a percentage of the revenue generated from the lease's production without being responsible for any operating costs. In South Dakota, there may be different types of Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) based on various conditions or clauses included in the agreement. Some key keywords to understand this concept and its variations are: 1. Overriding Royalty Interest: This refers to a fractional interest in the production of oil and gas reserves, typically free of any operating expenses. 2. Non-Producing Lease: This indicates that the assigned lease does not currently produce oil or gas but holds the potential for future development. 3. Single Lease: Denotes that only one specific lease is being assigned for overriding royalty interest rather than a group of leases. 4. Reserves Right to Pool: This allows the assignee to pool or combine their overriding royalty interest with other leases or interests in more efficient production and resource extraction. Some possible variations of South Dakota Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) may include specific clauses regarding the assignment's duration, limitations on pooling, royalty rates, or defined geographical boundaries within South Dakota. It is important for both parties involved, the assignor (original interest holder) and assignee (new overriding royalty interest holder), to carefully review and understand the terms and conditions outlined in the agreement. This ensures the appropriate transfer of rights and responsibilities related to the non-producing lease's future development and revenue generation.