This form is used when an Assignor assigns, transfers, and conveys to Assignee an overriding royalty interest in the Lease and all of the oil and gas produced, saved and marketed from the Lease, out of the interest owned by Assignor, with proportionate reduction (the Override ).
A Virgin Islands Assignment of Overriding Royalty Interest for Single Lease — Proportionate reduction refers to a legal document that specifies the transfer of ownership of a portion of the royalties from an oil or gas lease in the Virgin Islands. In this type of assignment, the royalty interest is proportionately reduced, meaning that a specific percentage of the original royalty interest is assigned to another party. Keywords: Virgin Islands, assignment, overriding royalty interest, single lease, proportionate reduction, oil, gas, ownership transfer, legal document. Different types of Virgin Islands Assignment of Overriding Royalty Interest for Single Lease — Proportionate reduction may include: 1. Virgin Islands Assignment of Overriding Royalty Interest for Single Lease — Proportionate Reduction in Oil Lease: This type of assignment specifically pertains to oil leases in the Virgin Islands where the royalty interest is proportionately reduced and transferred to another party. 2. Virgin Islands Assignment of Overriding Royalty Interest for Single Lease — Proportionate Reduction in Gas Lease: This variation applies to gas leases in the Virgin Islands, where a proportionate reduction of the royalty interest is assigned to a different entity. 3. Virgin Islands Assignment of Overriding Royalty Interest for Single Lease — Proportionate Reduction in Offshore Drilling Lease: This type of assignment addresses leases for offshore drilling operations in the Virgin Islands, wherein a portion of the royalty interest is proportionately reduced and assigned to another party. 4. Virgin Islands Assignment of Overriding Royalty Interest for Single Lease — Proportionate Reduction in Onshore Lease: This variation focuses on onshore leases in the Virgin Islands, where a proportionate reduction of the royalty interest is assigned to a third party. 5. Virgin Islands Assignment of Overriding Royalty Interest for Single Lease — Proportionate Reduction between Joint Lessees: This type of assignment involves a proportionate reduction of the royalty interest between joint lessees in the Virgin Islands, when one party assigns a portion of their share to another. In summary, a Virgin Islands Assignment of Overriding Royalty Interest for Single Lease — Proportionate reduction is a legal document that allows for the transfer of a portion of the royalty interest from an oil or gas lease in the Virgin Islands. There are different variations of this assignment, based on the type of lease (oil, gas, offshore, onshore) or the parties involved (individuals, joint lessees).A Virgin Islands Assignment of Overriding Royalty Interest for Single Lease — Proportionate reduction refers to a legal document that specifies the transfer of ownership of a portion of the royalties from an oil or gas lease in the Virgin Islands. In this type of assignment, the royalty interest is proportionately reduced, meaning that a specific percentage of the original royalty interest is assigned to another party. Keywords: Virgin Islands, assignment, overriding royalty interest, single lease, proportionate reduction, oil, gas, ownership transfer, legal document. Different types of Virgin Islands Assignment of Overriding Royalty Interest for Single Lease — Proportionate reduction may include: 1. Virgin Islands Assignment of Overriding Royalty Interest for Single Lease — Proportionate Reduction in Oil Lease: This type of assignment specifically pertains to oil leases in the Virgin Islands where the royalty interest is proportionately reduced and transferred to another party. 2. Virgin Islands Assignment of Overriding Royalty Interest for Single Lease — Proportionate Reduction in Gas Lease: This variation applies to gas leases in the Virgin Islands, where a proportionate reduction of the royalty interest is assigned to a different entity. 3. Virgin Islands Assignment of Overriding Royalty Interest for Single Lease — Proportionate Reduction in Offshore Drilling Lease: This type of assignment addresses leases for offshore drilling operations in the Virgin Islands, wherein a portion of the royalty interest is proportionately reduced and assigned to another party. 4. Virgin Islands Assignment of Overriding Royalty Interest for Single Lease — Proportionate Reduction in Onshore Lease: This variation focuses on onshore leases in the Virgin Islands, where a proportionate reduction of the royalty interest is assigned to a third party. 5. Virgin Islands Assignment of Overriding Royalty Interest for Single Lease — Proportionate Reduction between Joint Lessees: This type of assignment involves a proportionate reduction of the royalty interest between joint lessees in the Virgin Islands, when one party assigns a portion of their share to another. In summary, a Virgin Islands Assignment of Overriding Royalty Interest for Single Lease — Proportionate reduction is a legal document that allows for the transfer of a portion of the royalty interest from an oil or gas lease in the Virgin Islands. There are different variations of this assignment, based on the type of lease (oil, gas, offshore, onshore) or the parties involved (individuals, joint lessees).
