Wisconsin Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the Right to Pool

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• Control #: US-OG-691
• Format: Word; Rich Text

Description

This form is used by the Assignor to transfer, assign, and convey to Assignee an overriding royalty interest in multiple non-producing Leases. A Wisconsin Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the Right to Pool is a legal document that governs the transfer of overriding royalty interests from one party to another in the state of Wisconsin. This type of agreement typically involves multiple leases that are non-producing, meaning they do not currently generate any oil or gas production. The overriding royalty interest refers to a percentage share of the oil or gas production revenues that is separated from the working interest ownership. This means that the assignor (the party transferring the overriding royalty interest) retains the ownership of the leases but grants the assignee (the party receiving the overriding royalty interest) the right to receive a portion of the revenues generated from future production. In addition to the assignment of overriding royalty interests, this document also includes a reservation of the right to pool. Pooling is a common practice in the oil and gas industry where multiple leases are combined to optimize production from a particular area. By reserving the right to pool, the assignor ensures that they can unite the leased acreage with other leases, if necessary, to enhance the production potential. Different types of Wisconsin Assignments of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the Right to Pool may vary based on the specific terms and conditions included in the agreement. Some potential variations could include: 1. Partial Assignment: This type of assignment involves transferring only a portion of the overriding royalty interest to the assignee, allowing the assignor to retain a majority share. 2. Fractional Assignment: In this scenario, the overriding royalty interest is divided into fractions, with each assignee receiving a specific fraction of the total share. 3. Time-limited Assignment: This type of assignment may have a predetermined duration, where the overriding royalty interest is transferred to the assignee for a specific period after which it reverts to the assignor. 4. Non-exclusive Assignment: This variation allows the assignor to enter into multiple assignments of the same overriding royalty interest to different assignees, thereby diversifying their potential income sources. Overall, a Wisconsin Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the Right to Pool is a crucial legal document that facilitates the transfer of overriding royalty interests while allowing the assignor to retain ownership and control over the leases. It provides the assignee with the opportunity to benefit from future oil or gas production, while the assignor ensures the possibility of optimizing production through pooling.

A Wisconsin Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the Right to Pool is a legal document that governs the transfer of overriding royalty interests from one party to another in the state of Wisconsin. This type of agreement typically involves multiple leases that are non-producing, meaning they do not currently generate any oil or gas production. The overriding royalty interest refers to a percentage share of the oil or gas production revenues that is separated from the working interest ownership. This means that the assignor (the party transferring the overriding royalty interest) retains the ownership of the leases but grants the assignee (the party receiving the overriding royalty interest) the right to receive a portion of the revenues generated from future production. In addition to the assignment of overriding royalty interests, this document also includes a reservation of the right to pool. Pooling is a common practice in the oil and gas industry where multiple leases are combined to optimize production from a particular area. By reserving the right to pool, the assignor ensures that they can unite the leased acreage with other leases, if necessary, to enhance the production potential. Different types of Wisconsin Assignments of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the Right to Pool may vary based on the specific terms and conditions included in the agreement. Some potential variations could include: 1. Partial Assignment: This type of assignment involves transferring only a portion of the overriding royalty interest to the assignee, allowing the assignor to retain a majority share. 2. Fractional Assignment: In this scenario, the overriding royalty interest is divided into fractions, with each assignee receiving a specific fraction of the total share. 3. Time-limited Assignment: This type of assignment may have a predetermined duration, where the overriding royalty interest is transferred to the assignee for a specific period after which it reverts to the assignor. 4. Non-exclusive Assignment: This variation allows the assignor to enter into multiple assignments of the same overriding royalty interest to different assignees, thereby diversifying their potential income sources. Overall, a Wisconsin Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the Right to Pool is a crucial legal document that facilitates the transfer of overriding royalty interests while allowing the assignor to retain ownership and control over the leases. It provides the assignee with the opportunity to benefit from future oil or gas production, while the assignor ensures the possibility of optimizing production through pooling.