This form is used when an Assignor transfers, assigns and conveys to Assignee an overriding royalty interest in all of the oil, gas, and other minerals produced, saved, and marketed from all of the Lands and Leases equal to a determined amount (the Override ), reserving the right to pool the assigned interest.
Houston Texas Assignment of Overriding Royalty Interest (ORRIS) refers to a legal document that allows the assignor to transfer their rights to receive a portion of the royalty payments from an oil or gas well to another party, while also reserving the right to pool the assigned interest. In simple terms, it is a contractual agreement between the assignor and assignee regarding the allocation of royalty interests and future pooling options. The Short Form version of the Houston Texas Assignment of ORRIS specifically outlines the relevant details concisely. It serves to provide a clear understanding of the rights and responsibilities of each party involved. Keywords: Houston Texas, Assignment of Overriding Royalty Interest, Assignor, Reserves, Pool, Assigned Interest, Short Form. Different types of Houston Texas Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form may include: 1. Standard Houston Texas Assignment of ORRIS Short Form: This is the basic version of the document, covering all essential clauses and provisions related to the assignment of ORRIS and the assignor's right to pool the assigned interest. 2. Additional Terms Houston Texas Assignment of ORRIS Short Form: This variant includes additional terms and conditions, which might be specific to certain agreements or legal requirements. 3. Exclusive Houston Texas Assignment of ORRIS Short Form: In this type of agreement, the assignor exclusively assigns their ORRIS to the assignee for all production from a specific well or wells, while reserving the right to pool the assigned interest. 4. Non-Exclusive Houston Texas Assignment of ORRIS Short Form: This version of the agreement allows the assignor to assign their ORRIS to multiple assignees, each receiving a designated percentage of the royalty interest. The assignor also reserves the right to pool the assigned interest. 5. Limited Houston Texas Assignment of ORRIS Short Form: This variant restricts the assignor's right to pool the assigned interest for a limited period or specific geographical area. The assignor retains the right to pool after the specified conditions are met. 6. Enhanced Houston Texas Assignment of ORRIS Short Form: This version may include additional provisions to protect the assignor's interests, such as specific limitations on the assignee's ability to transfer their rights or additional compensation for exceeding production targets. It is important to consult legal professionals to ensure accuracy and compliance with applicable laws when drafting or entering into any Assignment of Overriding Royalty Interest agreement in Houston, Texas.Houston Texas Assignment of Overriding Royalty Interest (ORRIS) refers to a legal document that allows the assignor to transfer their rights to receive a portion of the royalty payments from an oil or gas well to another party, while also reserving the right to pool the assigned interest. In simple terms, it is a contractual agreement between the assignor and assignee regarding the allocation of royalty interests and future pooling options. The Short Form version of the Houston Texas Assignment of ORRIS specifically outlines the relevant details concisely. It serves to provide a clear understanding of the rights and responsibilities of each party involved. Keywords: Houston Texas, Assignment of Overriding Royalty Interest, Assignor, Reserves, Pool, Assigned Interest, Short Form. Different types of Houston Texas Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form may include: 1. Standard Houston Texas Assignment of ORRIS Short Form: This is the basic version of the document, covering all essential clauses and provisions related to the assignment of ORRIS and the assignor's right to pool the assigned interest. 2. Additional Terms Houston Texas Assignment of ORRIS Short Form: This variant includes additional terms and conditions, which might be specific to certain agreements or legal requirements. 3. Exclusive Houston Texas Assignment of ORRIS Short Form: In this type of agreement, the assignor exclusively assigns their ORRIS to the assignee for all production from a specific well or wells, while reserving the right to pool the assigned interest. 4. Non-Exclusive Houston Texas Assignment of ORRIS Short Form: This version of the agreement allows the assignor to assign their ORRIS to multiple assignees, each receiving a designated percentage of the royalty interest. The assignor also reserves the right to pool the assigned interest. 5. Limited Houston Texas Assignment of ORRIS Short Form: This variant restricts the assignor's right to pool the assigned interest for a limited period or specific geographical area. The assignor retains the right to pool after the specified conditions are met. 6. Enhanced Houston Texas Assignment of ORRIS Short Form: This version may include additional provisions to protect the assignor's interests, such as specific limitations on the assignee's ability to transfer their rights or additional compensation for exceeding production targets. It is important to consult legal professionals to ensure accuracy and compliance with applicable laws when drafting or entering into any Assignment of Overriding Royalty Interest agreement in Houston, Texas.
