Texas 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. A Texas Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form is a legal document used in the oil and gas industry to transfer the right to receive royalties from the production of oil and gas. This type of assignment can involve multiple leases, which are agreements granting the lessee (the party receiving the assignment) the right to explore and produce oil and gas on a specific tract of land. The assignor (the party transferring the overriding royalty interest) may have acquired working interest rights, which refer to ownership of a percentage of the actual production from the leased property. The assignment document typically includes a limited warranty, which means that the assignor is providing limited assurances to the assignee regarding the validity of the overriding royalty interest being transferred. This warranty protects the assignee against any defects or claims arising from the assignor's actions or omissions. Keywords: Texas, Assignment, Overriding Royalty Interest, Working Interest, Multiple Leases, Limited Warranty, Long Form. Different types or variations of this assignment document might include: 1. Texas Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Short Form: This is a shorter version of the long-form document, providing a more concise description of the assignment and limited warranty terms. 2. Texas Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Full Warranty — Long Form: In this variation, the assignor provides a full warranty, guaranteeing the title and validity of the overriding royalty interest being transferred. This offers stronger protection to the assignee. 3. Texas Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Joint Operating Agreement: This document incorporates the assignment of the overriding royalty interest into a joint operating agreement, which specifies the rights and responsibilities of the parties involved in the exploration and production operations. 4. Texas Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty Farm outut Agreement: This type of assignment is specifically used in farm out agreements, where the assignee is granted the right to explore and produce oil and gas on the leased property in exchange for certain considerations or obligations. These variations may have specific legal provisions and requirements depending on the circumstances of the transaction and the preferences of the parties involved. Therefore, it is crucial to consult legal professionals experienced in oil and gas law to ensure compliance and accuracy when drafting or interpreting these documents.

A Texas Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Long Form is a legal document used in the oil and gas industry to transfer the right to receive royalties from the production of oil and gas. This type of assignment can involve multiple leases, which are agreements granting the lessee (the party receiving the assignment) the right to explore and produce oil and gas on a specific tract of land. The assignor (the party transferring the overriding royalty interest) may have acquired working interest rights, which refer to ownership of a percentage of the actual production from the leased property. The assignment document typically includes a limited warranty, which means that the assignor is providing limited assurances to the assignee regarding the validity of the overriding royalty interest being transferred. This warranty protects the assignee against any defects or claims arising from the assignor's actions or omissions. Keywords: Texas, Assignment, Overriding Royalty Interest, Working Interest, Multiple Leases, Limited Warranty, Long Form. Different types or variations of this assignment document might include: 1. Texas Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Short Form: This is a shorter version of the long-form document, providing a more concise description of the assignment and limited warranty terms. 2. Texas Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Full Warranty — Long Form: In this variation, the assignor provides a full warranty, guaranteeing the title and validity of the overriding royalty interest being transferred. This offers stronger protection to the assignee. 3. Texas Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty — Joint Operating Agreement: This document incorporates the assignment of the overriding royalty interest into a joint operating agreement, which specifies the rights and responsibilities of the parties involved in the exploration and production operations. 4. Texas Assignment of Overriding Royalty Interest Out of Working Interest with Multiple Leases and Limited Warranty Farm outut Agreement: This type of assignment is specifically used in farm out agreements, where the assignee is granted the right to explore and produce oil and gas on the leased property in exchange for certain considerations or obligations. These variations may have specific legal provisions and requirements depending on the circumstances of the transaction and the preferences of the parties involved. Therefore, it is crucial to consult legal professionals experienced in oil and gas law to ensure compliance and accuracy when drafting or interpreting these documents.