Wisconsin Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal document that outlines the transfer of an overriding royalty interest in an oil or gas lease in the state of Wisconsin. This type of assignment is commonly used in the oil and gas industry to allocate interests and rights to different parties. The "non-producing" aspect of this assignment means that the assigned interest does not depend on the actual production of oil or gas from the lease. Instead, it is a share of the revenues generated by the lease, regardless of production levels. The term "single lease" indicates that the assignment applies to a specific lease or a defined portion of it rather than multiple leases or areas. This allows for a clear and specific allocation of the overriding royalty interest. Additionally, the assignment reserves the right to pool. Pooling refers to the process of combining multiple leases or mineral interests into a single unit for more efficient development and production. By reserving the right to pool, the assignor maintains the flexibility to participate in future pooling activities or to grant such rights to a third party. It is important to note that there may be other variations and types of Wisconsin Assignment of Overriding Royalty Interest, depending on the specific terms and conditions agreed upon by the parties involved. These variations might include different levels of royalty percentages, varying geographical areas, and additional rights or restrictions. Overall, the Wisconsin Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legally binding document that transfers a non-producing overriding royalty interest in a single lease while reserving the right for future pooling activities. It is a crucial agreement that ensures transparency and clarity in the allocation of royalty interests in the oil and gas industry within the state of Wisconsin.
Wisconsin Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal document that outlines the transfer of an overriding royalty interest in an oil or gas lease in the state of Wisconsin. This type of assignment is commonly used in the oil and gas industry to allocate interests and rights to different parties. The "non-producing" aspect of this assignment means that the assigned interest does not depend on the actual production of oil or gas from the lease. Instead, it is a share of the revenues generated by the lease, regardless of production levels. The term "single lease" indicates that the assignment applies to a specific lease or a defined portion of it rather than multiple leases or areas. This allows for a clear and specific allocation of the overriding royalty interest. Additionally, the assignment reserves the right to pool. Pooling refers to the process of combining multiple leases or mineral interests into a single unit for more efficient development and production. By reserving the right to pool, the assignor maintains the flexibility to participate in future pooling activities or to grant such rights to a third party. It is important to note that there may be other variations and types of Wisconsin Assignment of Overriding Royalty Interest, depending on the specific terms and conditions agreed upon by the parties involved. These variations might include different levels of royalty percentages, varying geographical areas, and additional rights or restrictions. Overall, the Wisconsin Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legally binding document that transfers a non-producing overriding royalty interest in a single lease while reserving the right for future pooling activities. It is a crucial agreement that ensures transparency and clarity in the allocation of royalty interests in the oil and gas industry within the state of Wisconsin.
