Texas 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. A Texas Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal agreement that relates to the ownership and transfer of mineral rights in the state of Texas. This type of assignment specifically pertains to non-producing leases and includes the reservation of the rights to pool. In the context of mineral rights, an overriding royalty interest refers to a share of the profits obtained from the production of minerals, which is separate from the ownership of the actual minerals themselves. This means that the holder of an overriding royalty interest is entitled to a percentage of the revenue generated from the production of minerals on a specific lease. When it comes to the Texas Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool), there may be different variations or types with specific provisions tailored to different situations. Some possible variations may include: 1. Texas Assignment of Overriding Royalty Interest on Non-Producing Lease: This type of assignment deals specifically with non-producing leases, where no active extraction of minerals is taking place at the time of the assignment. The assignment establishes the percentage of overriding royalty interest assigned to the assignee and outlines the specific terms and conditions of the agreement. 2. Texas Assignment of Overriding Royalty Interest on Single Lease: This type of assignment targets a single lease, where the overriding royalty interest is associated with a particular lease specifically identified in the assignment. It may include details regarding the lease's location, legal description, and any additional terms specific to that lease. 3. Texas Assignment of Overriding Royalty Interest that Reserves Right to Pool: This specific type of assignment not only transfers the overriding royalty interest but also reserves the right to pool the leased minerals. Pooling refers to the combining of multiple contiguous lease tracts to facilitate more efficient extraction and production of minerals. This provision allows the assignee to participate in pooled operations and receive royalties from the production. In summary, a Texas Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legally binding document that transfers ownership of a non-producing overriding royalty interest associated with a single lease, while also reserving the right to pool the leased minerals if necessary. Different variations of this assignment may exist, tailored to specific scenarios and including relevant provisions and conditions.

A Texas Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal agreement that relates to the ownership and transfer of mineral rights in the state of Texas. This type of assignment specifically pertains to non-producing leases and includes the reservation of the rights to pool. In the context of mineral rights, an overriding royalty interest refers to a share of the profits obtained from the production of minerals, which is separate from the ownership of the actual minerals themselves. This means that the holder of an overriding royalty interest is entitled to a percentage of the revenue generated from the production of minerals on a specific lease. When it comes to the Texas Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool), there may be different variations or types with specific provisions tailored to different situations. Some possible variations may include: 1. Texas Assignment of Overriding Royalty Interest on Non-Producing Lease: This type of assignment deals specifically with non-producing leases, where no active extraction of minerals is taking place at the time of the assignment. The assignment establishes the percentage of overriding royalty interest assigned to the assignee and outlines the specific terms and conditions of the agreement. 2. Texas Assignment of Overriding Royalty Interest on Single Lease: This type of assignment targets a single lease, where the overriding royalty interest is associated with a particular lease specifically identified in the assignment. It may include details regarding the lease's location, legal description, and any additional terms specific to that lease. 3. Texas Assignment of Overriding Royalty Interest that Reserves Right to Pool: This specific type of assignment not only transfers the overriding royalty interest but also reserves the right to pool the leased minerals. Pooling refers to the combining of multiple contiguous lease tracts to facilitate more efficient extraction and production of minerals. This provision allows the assignee to participate in pooled operations and receive royalties from the production. In summary, a Texas Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legally binding document that transfers ownership of a non-producing overriding royalty interest associated with a single lease, while also reserving the right to pool the leased minerals if necessary. Different variations of this assignment may exist, tailored to specific scenarios and including relevant provisions and conditions.