The form is used when the Assignor transfers, assigns, and conveys to Assignee an overriding royalty interest in the Leases and all of the oil, gas and other minerals produced, saved and marketed from the Lease equal to a pecentage of 8/8 (the Override ).
A San Antonio Texas Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction is a legal agreement wherein the owner of an overriding royalty interest (ORRIS) transfers their interest to another party without any reduction in proportionate shares. This type of assignment specifically preserves the original ownership percentage, ensuring that the new owner receives the same portion of royalties from the oil and gas production as the previous owner. San Antonio, Texas, known as the "Alamo City," is a vibrant and culturally rich city located in South Central Texas. With a population of over 1.5 million, San Antonio is the seventh-most populous city in the United States. The city holds great historical significance as the site of the famous Battle of the Alamo, as well as being home to iconic attractions like the River Walk and the San Antonio Missions National Historical Park. In the context of the oil and gas industry, San Antonio serves as a primary hub for activity in South Texas. The region is known for its vast energy resources and rich oil and gas reserves. As such, numerous parties enter into agreements related to mineral rights, including overriding royalty interests. The Assignment of Overriding Royalty Interest allows the owner of an ORRIS to transfer their interest to another party, such as an individual or a company. By doing so, the original owner relinquishes their right to a portion of the royalty revenue generated from the oil and gas production. However, the "No Proportionate Reduction" clause ensures that the new owner receives the same proportionate percentage of royalties as the original owner. This provision safeguards the new owner's interest and maintains the integrity of the original ORRIS arrangement. There can be various types of San Antonio Texas Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction, tailored to the specific needs of the parties involved. These may include agreements related to specific oil wells, specific geographic areas, or specific time durations. Some examples of these specialized assignments are: 1. Well-Specific Assignment: This type of assignment is tailored to a particular oil or gas well, transferring the overriding royalty interest related to that specific well. 2. Area-Specific Assignment: In this case, the overriding royalty interest owner assigns their interest within a designated geographic area, such as a specific county or field. 3. Time-Specific Assignment: This type of assignment may limit the duration of the assignment, such as for a fixed term or for the duration of a particular lease agreement. Overall, the San Antonio Texas Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction, facilitates the transfer of an overriding royalty interest while maintaining the original percentage ownership, ensuring a fair and equitable distribution of royalties from oil and gas production in the region.A San Antonio Texas Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction is a legal agreement wherein the owner of an overriding royalty interest (ORRIS) transfers their interest to another party without any reduction in proportionate shares. This type of assignment specifically preserves the original ownership percentage, ensuring that the new owner receives the same portion of royalties from the oil and gas production as the previous owner. San Antonio, Texas, known as the "Alamo City," is a vibrant and culturally rich city located in South Central Texas. With a population of over 1.5 million, San Antonio is the seventh-most populous city in the United States. The city holds great historical significance as the site of the famous Battle of the Alamo, as well as being home to iconic attractions like the River Walk and the San Antonio Missions National Historical Park. In the context of the oil and gas industry, San Antonio serves as a primary hub for activity in South Texas. The region is known for its vast energy resources and rich oil and gas reserves. As such, numerous parties enter into agreements related to mineral rights, including overriding royalty interests. The Assignment of Overriding Royalty Interest allows the owner of an ORRIS to transfer their interest to another party, such as an individual or a company. By doing so, the original owner relinquishes their right to a portion of the royalty revenue generated from the oil and gas production. However, the "No Proportionate Reduction" clause ensures that the new owner receives the same proportionate percentage of royalties as the original owner. This provision safeguards the new owner's interest and maintains the integrity of the original ORRIS arrangement. There can be various types of San Antonio Texas Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction, tailored to the specific needs of the parties involved. These may include agreements related to specific oil wells, specific geographic areas, or specific time durations. Some examples of these specialized assignments are: 1. Well-Specific Assignment: This type of assignment is tailored to a particular oil or gas well, transferring the overriding royalty interest related to that specific well. 2. Area-Specific Assignment: In this case, the overriding royalty interest owner assigns their interest within a designated geographic area, such as a specific county or field. 3. Time-Specific Assignment: This type of assignment may limit the duration of the assignment, such as for a fixed term or for the duration of a particular lease agreement. Overall, the San Antonio Texas Assignment of Overriding Royalty Interest in Overriding Royalty Interest Owner, No Proportionate Reduction, facilitates the transfer of an overriding royalty interest while maintaining the original percentage ownership, ensuring a fair and equitable distribution of royalties from oil and gas production in the region.
