Travis Texas 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
• County: Travis
• 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 Travis, Texas Assignment of Overriding Royalty Interests is a legal agreement that pertains to the assignment of a certain percentage of an assignor's net revenue interest, after deducting certain costs, effectively resulting in a net profit. This type of assignment is commonly used in the oil and gas industry to distribute revenues from the production of minerals or hydrocarbons. The key purpose of the Travis, Texas Assignment of Overriding Royalty Interests is to provide a mechanism for individuals or entities to transfer a portion of their net revenue interest to another party, known as the assignee. This assignment grants the assignee the right to receive a specified percentage of the assignor's net revenue interest, after certain costs have been deducted. In Travis, Texas, there may be various types or variations of the Assignment of Overriding Royalty Interests, such as: 1. Fixed Percentage Assignment: This type of assignment involves a fixed and unchanged percentage of the assignor's net revenue interest being transferred to the assignee. The assignee will consistently receive the specified percentage of net profits throughout the life of the agreement. 2. Sliding Scale Assignment: With this type of assignment, the percentage of the assignor's net revenue interest assigned to the assignee may vary based on specific factors, such as the production volume or commodity prices. The assigned percentage may increase or decrease depending on predetermined conditions outlined in the agreement. 3. Time-Based Assignment: This assignment type involves a predetermined timeframe, during which the assignee will receive the assigned percentage of the assignor's net revenue interest. Once the agreed-upon period expires, the rights to the assigned net profits may revert to the assignor. 4. Multiple Assignees Assignment: In some cases, an assignor may choose to divide their net revenue interest among multiple assignees. This type of assignment allows different parties to each receive a specified percentage of the assignor's net revenue interest, after deductions of certain costs. 5. Specific Asset Assignment: This variation specifies the assignment of overriding royalty interests pertaining to a particular asset or property, rather than assigning a percentage of the assignor's overall net revenue interest. The Travis, Texas 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 legally binding agreement that facilitates the distribution of net profits in the oil and gas industry. It offers flexibility in terms of assigning percentages, timeframes, and considering various factors that may impact the assigned percentage.

The Travis, Texas Assignment of Overriding Royalty Interests is a legal agreement that pertains to the assignment of a certain percentage of an assignor's net revenue interest, after deducting certain costs, effectively resulting in a net profit. This type of assignment is commonly used in the oil and gas industry to distribute revenues from the production of minerals or hydrocarbons. The key purpose of the Travis, Texas Assignment of Overriding Royalty Interests is to provide a mechanism for individuals or entities to transfer a portion of their net revenue interest to another party, known as the assignee. This assignment grants the assignee the right to receive a specified percentage of the assignor's net revenue interest, after certain costs have been deducted. In Travis, Texas, there may be various types or variations of the Assignment of Overriding Royalty Interests, such as: 1. Fixed Percentage Assignment: This type of assignment involves a fixed and unchanged percentage of the assignor's net revenue interest being transferred to the assignee. The assignee will consistently receive the specified percentage of net profits throughout the life of the agreement. 2. Sliding Scale Assignment: With this type of assignment, the percentage of the assignor's net revenue interest assigned to the assignee may vary based on specific factors, such as the production volume or commodity prices. The assigned percentage may increase or decrease depending on predetermined conditions outlined in the agreement. 3. Time-Based Assignment: This assignment type involves a predetermined timeframe, during which the assignee will receive the assigned percentage of the assignor's net revenue interest. Once the agreed-upon period expires, the rights to the assigned net profits may revert to the assignor. 4. Multiple Assignees Assignment: In some cases, an assignor may choose to divide their net revenue interest among multiple assignees. This type of assignment allows different parties to each receive a specified percentage of the assignor's net revenue interest, after deductions of certain costs. 5. Specific Asset Assignment: This variation specifies the assignment of overriding royalty interests pertaining to a particular asset or property, rather than assigning a percentage of the assignor's overall net revenue interest. The Travis, Texas 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 legally binding agreement that facilitates the distribution of net profits in the oil and gas industry. It offers flexibility in terms of assigning percentages, timeframes, and considering various factors that may impact the assigned percentage.