West Virginia Assignment of Overriding Royalty Interests of a Percentage of Assignor's Net Revenue Interest, After Deductions of Certain Costs - Effectively A Net Profits

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• Control #: US-OG-284
• 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 and all oil, gas and other minerals produced, saved and sold from the Lease and Land. The West Virginia Assignment of Overriding Royalty Interests of a Percentage of Assignor's Net Revenue Interest, After Deductions of Certain Costs — Effectively A Net Profits is a legal agreement that involves the transfer of a portion of the assignor's net revenue interest to another party in West Virginia. This assignment is subject to the deduction of certain costs, resulting in the creation of net profits for the assignee. In this contractual arrangement, the assignor grants an overriding royalty interest to the assignee, entitling them to receive a predetermined percentage of the net revenue from a specific asset or property. The net revenue interest represents the assignor's share of the income generated from the production, sale, or exploitation of the asset, after subtracting applicable expenses. The overriding royalty interest provided by the assignment pertains specifically to West Virginia, which implies that the asset or property involved is located within the state's jurisdiction. This could include interests in oil and gas wells, mineral deposits, or other natural resources found in West Virginia. The assignment specifies that the assignee will receive a set percentage of the assignor's net revenue interest. This percentage is calculated after subtracting certain costs associated with the production or operation of the asset. These costs may include operating expenses, maintenance fees, taxes, and any other relevant deductions. The remaining amount after these deductions constitutes the net profits or net revenue upon which the assignee's percentage interest applies. The West Virginia Assignment of Overriding Royalty Interests of a Percentage of Assignor's Net Revenue Interest, After Deductions of Certain Costs — Effectively A Net Profits can take various forms depending on the specific details and parties involved. It could be an assignment between individual landowners and companies, an assignment from one company to another, or even an assignment enabling the participation of investors or financiers in the project. It is important to note that the exact terms and conditions of the assignment can vary, and legal advice should be sought to ensure the agreement adequately addresses the parties' intentions and protects their rights.

The West Virginia Assignment of Overriding Royalty Interests of a Percentage of Assignor's Net Revenue Interest, After Deductions of Certain Costs — Effectively A Net Profits is a legal agreement that involves the transfer of a portion of the assignor's net revenue interest to another party in West Virginia. This assignment is subject to the deduction of certain costs, resulting in the creation of net profits for the assignee. In this contractual arrangement, the assignor grants an overriding royalty interest to the assignee, entitling them to receive a predetermined percentage of the net revenue from a specific asset or property. The net revenue interest represents the assignor's share of the income generated from the production, sale, or exploitation of the asset, after subtracting applicable expenses. The overriding royalty interest provided by the assignment pertains specifically to West Virginia, which implies that the asset or property involved is located within the state's jurisdiction. This could include interests in oil and gas wells, mineral deposits, or other natural resources found in West Virginia. The assignment specifies that the assignee will receive a set percentage of the assignor's net revenue interest. This percentage is calculated after subtracting certain costs associated with the production or operation of the asset. These costs may include operating expenses, maintenance fees, taxes, and any other relevant deductions. The remaining amount after these deductions constitutes the net profits or net revenue upon which the assignee's percentage interest applies. The West Virginia Assignment of Overriding Royalty Interests of a Percentage of Assignor's Net Revenue Interest, After Deductions of Certain Costs — Effectively A Net Profits can take various forms depending on the specific details and parties involved. It could be an assignment between individual landowners and companies, an assignment from one company to another, or even an assignment enabling the participation of investors or financiers in the project. It is important to note that the exact terms and conditions of the assignment can vary, and legal advice should be sought to ensure the agreement adequately addresses the parties' intentions and protects their rights.