Wyoming Assignment of Overriding Royalty Interest Limited As to Depth

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• Control #: US-OG-290
• 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, which is limited to depth. Wyoming Assignment of Overriding Royalty Interest Limited As to Depth is a legal document that transfers the right to receive royalty payments from the production of minerals or oil and gas in Wyoming, with certain limitations as to the depth of the extraction. This type of assignment is commonly used in the oil and gas industry to grant an overriding royalty interest to a third party, while specifying the depth at which the royalty interest applies. Here are some important details related to this assignment: 1. Purpose: The Wyoming Assignment of Overriding Royalty Interest Limited As to Depth allows the transfer of the right to receive a portion of the royalty payments generated from the extraction of minerals, oil, or gas in Wyoming. It specifies that the assignment is limited to a particular depth range to protect the assignor's interests. 2. Parties involved: The assignment involves two parties, the assignor (the current owner of the overriding royalty interest) and the assignee (the party acquiring the royalty interest). The assignor transfers the interest to the assignee, who will then become entitled to a portion of the royalty payments. 3. Depth limitation: This type of assignment includes a specific depth limitation clause, detailing the depth range up to which the overriding royalty interest applies. For example, the assignment may stipulate that the interest only applies to depths between 1,000 and 5,000 feet. 4. Royalty percentage: The assignment may state the percentage of the royalty interest being transferred. For instance, the assignor might grant a 2% overriding royalty interest to the assignee, meaning that the assignee will receive 2% of the total royalty payments generated from the specified depths. 5. Legal protections: The Wyoming Assignment of Overriding Royalty Interest Limited As to Depth includes legal safeguards to protect the interests of both parties. It generally includes provisions addressing the assignee's rights, obligations, and potential limitations, as well as any indemnification clauses or dispute resolution mechanisms. Types of Wyoming Assignment of Overriding Royalty Interest Limited As to Depth: 1. Oil and gas assignment: This type of assignment specifically pertains to the transfer of overriding royalty interest limited to depths related to oil and gas extraction. It typically involves a percentage ownership in the royalties generated from these resources. 2. Mineral assignment: Similar to the oil and gas assignment, this type of Wyoming Assignment of Overriding Royalty Interest Limited As to Depth applies to the transfer of overriding royalty interest limited to depths associated with mineral extraction, such as coal, uranium, or other valuable minerals. In conclusion, Wyoming Assignment of Overriding Royalty Interest Limited As to Depth is a legal document facilitating the transfer of royalty interests within a specified depth range. It protects the assignor's rights while granting the assignee a percentage ownership of the royalties generated from mineral, oil, or gas extraction in Wyoming.

Wyoming Assignment of Overriding Royalty Interest Limited As to Depth is a legal document that transfers the right to receive royalty payments from the production of minerals or oil and gas in Wyoming, with certain limitations as to the depth of the extraction. This type of assignment is commonly used in the oil and gas industry to grant an overriding royalty interest to a third party, while specifying the depth at which the royalty interest applies. Here are some important details related to this assignment: 1. Purpose: The Wyoming Assignment of Overriding Royalty Interest Limited As to Depth allows the transfer of the right to receive a portion of the royalty payments generated from the extraction of minerals, oil, or gas in Wyoming. It specifies that the assignment is limited to a particular depth range to protect the assignor's interests. 2. Parties involved: The assignment involves two parties, the assignor (the current owner of the overriding royalty interest) and the assignee (the party acquiring the royalty interest). The assignor transfers the interest to the assignee, who will then become entitled to a portion of the royalty payments. 3. Depth limitation: This type of assignment includes a specific depth limitation clause, detailing the depth range up to which the overriding royalty interest applies. For example, the assignment may stipulate that the interest only applies to depths between 1,000 and 5,000 feet. 4. Royalty percentage: The assignment may state the percentage of the royalty interest being transferred. For instance, the assignor might grant a 2% overriding royalty interest to the assignee, meaning that the assignee will receive 2% of the total royalty payments generated from the specified depths. 5. Legal protections: The Wyoming Assignment of Overriding Royalty Interest Limited As to Depth includes legal safeguards to protect the interests of both parties. It generally includes provisions addressing the assignee's rights, obligations, and potential limitations, as well as any indemnification clauses or dispute resolution mechanisms. Types of Wyoming Assignment of Overriding Royalty Interest Limited As to Depth: 1. Oil and gas assignment: This type of assignment specifically pertains to the transfer of overriding royalty interest limited to depths related to oil and gas extraction. It typically involves a percentage ownership in the royalties generated from these resources. 2. Mineral assignment: Similar to the oil and gas assignment, this type of Wyoming Assignment of Overriding Royalty Interest Limited As to Depth applies to the transfer of overriding royalty interest limited to depths associated with mineral extraction, such as coal, uranium, or other valuable minerals. In conclusion, Wyoming Assignment of Overriding Royalty Interest Limited As to Depth is a legal document facilitating the transfer of royalty interests within a specified depth range. It protects the assignor's rights while granting the assignee a percentage ownership of the royalties generated from mineral, oil, or gas extraction in Wyoming.