Tarrant Texas Assignment of Overriding Royalty Interest to Become Effective At Payout, With Payout Based on Volume of Oil Produced

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• County: Tarrant
• Control #: US-OG-283
• 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, to be effective at payout. Tarrant Texas Assignment of Overriding Royalty Interest to Become Effective At Payout, With Payout Based on Volume of Oil Produced can refer to a legal agreement in the oil and gas industry that involves the transfer of rights to a percentage of oil and gas production from one party to another. This type of assignment allows the assignee to receive royalty payments based on the volume of oil produced from a specific property or lease. In Tarrant, Texas, there are various types of Assignment of Overriding Royalty Interest to Become Effective At Payout, With Payout Based on Volume of Oil Produced, including: 1. Conventional Lease Assignment: This assignment involves the transfer of overriding royalty interest on a conventional oil and gas lease in Tarrant, Texas. The assignment becomes effective once the lease reaches the payout phase, and the assignee is entitled to receive royalty payments based on the volume of oil produced. 2. Unconventional Shale Lease Assignment: This type of assignment pertains to overriding royalty interest on unconventional shale leases, such as those related to the Barnett Shale formation in Tarrant, Texas. The assignment becomes effective at payout, and the assignee's royalty payments are determined by the amount of oil produced from the shale formation. 3. Horizontal Drilling Assignment: This assignment type typically applies to horizontal drilling operations in Tarrant, Texas, where the assignor transfers overriding royalty interest to the assignee. The assignment becomes effective when the well reaches payout, and the assignee receives royalties based on the volume of oil extracted through the horizontal drilling technique. The Tarrant Texas Assignment of Overriding Royalty Interest to Become Effective At Payout, With Payout Based on Volume of Oil Produced provides an arrangement where the assignee can benefit from the productivity of oil wells and leases. The assignee's royalties are calculated by considering the actual volume of oil extracted, ensuring a fair compensation based on the success of the oil production. Parties involved in such assignments typically include the assignor (original royalty interest owner), assignee (the party receiving the overriding royalty interest), and the operator (company responsible for oil and gas production operations). In summary, the Tarrant Texas Assignment of Overriding Royalty Interest to Become Effective At Payout, With Payout Based on Volume of Oil Produced is a legal and financial arrangement that enables the transfer of rights to receive royalties from oil and gas production based on the volume of oil extracted. Different types of assignments can occur, such as conventional, unconventional shale, or horizontal drilling assignments, depending on the specific characteristics of the leases or drilling operations in Tarrant, Texas.

Tarrant Texas Assignment of Overriding Royalty Interest to Become Effective At Payout, With Payout Based on Volume of Oil Produced can refer to a legal agreement in the oil and gas industry that involves the transfer of rights to a percentage of oil and gas production from one party to another. This type of assignment allows the assignee to receive royalty payments based on the volume of oil produced from a specific property or lease. In Tarrant, Texas, there are various types of Assignment of Overriding Royalty Interest to Become Effective At Payout, With Payout Based on Volume of Oil Produced, including: 1. Conventional Lease Assignment: This assignment involves the transfer of overriding royalty interest on a conventional oil and gas lease in Tarrant, Texas. The assignment becomes effective once the lease reaches the payout phase, and the assignee is entitled to receive royalty payments based on the volume of oil produced. 2. Unconventional Shale Lease Assignment: This type of assignment pertains to overriding royalty interest on unconventional shale leases, such as those related to the Barnett Shale formation in Tarrant, Texas. The assignment becomes effective at payout, and the assignee's royalty payments are determined by the amount of oil produced from the shale formation. 3. Horizontal Drilling Assignment: This assignment type typically applies to horizontal drilling operations in Tarrant, Texas, where the assignor transfers overriding royalty interest to the assignee. The assignment becomes effective when the well reaches payout, and the assignee receives royalties based on the volume of oil extracted through the horizontal drilling technique. The Tarrant Texas Assignment of Overriding Royalty Interest to Become Effective At Payout, With Payout Based on Volume of Oil Produced provides an arrangement where the assignee can benefit from the productivity of oil wells and leases. The assignee's royalties are calculated by considering the actual volume of oil extracted, ensuring a fair compensation based on the success of the oil production. Parties involved in such assignments typically include the assignor (original royalty interest owner), assignee (the party receiving the overriding royalty interest), and the operator (company responsible for oil and gas production operations). In summary, the Tarrant Texas Assignment of Overriding Royalty Interest to Become Effective At Payout, With Payout Based on Volume of Oil Produced is a legal and financial arrangement that enables the transfer of rights to receive royalties from oil and gas production based on the volume of oil extracted. Different types of assignments can occur, such as conventional, unconventional shale, or horizontal drilling assignments, depending on the specific characteristics of the leases or drilling operations in Tarrant, Texas.