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.
Los Angeles, California is a vibrant and diverse city located on the west coast of the United States. It is known for its sunny weather, bustling entertainment industry, and cultural landmarks. As the second most populous city in the country, Los Angeles offers a wide range of attractions and opportunities. In the realm of oil and gas investments, the Assignment of Overriding Royalty Interest (ORRIS) is a crucial legal agreement. It involves the transfer of a portion of the royalty interest to a third party, referred to as the assignee, in exchange for compensation. In some cases, the assignor may choose to reserve the right to pool the assigned interest. This means they can combine the assigned interest with other interests in more efficient management and extraction of oil or gas resources. There are different forms of the Los Angeles, California Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form. These variations depend on specific clauses and provisions included in the agreement. For instance, one form may focus on the duration of the pooling rights reserved by the assignor, while another may outline the conditions under which the pooling can occur. The main purpose of the short form of this agreement is to provide a concise and efficient representation of the assignment and the assignor's rights to pool the assigned interest. It typically includes essential details such as the exact assignment percentage, any limitations or restrictions on pooling, and the compensation terms for the assignor. Keywords: Los Angeles, California, Assignment of Overriding Royalty Interest, assignor, reserved right, pool, assigned interest, short form, oil and gas, extraction, resources, compensation, clauses, provisions, duration, limitations, restrictions, agreement.Los Angeles, California is a vibrant and diverse city located on the west coast of the United States. It is known for its sunny weather, bustling entertainment industry, and cultural landmarks. As the second most populous city in the country, Los Angeles offers a wide range of attractions and opportunities. In the realm of oil and gas investments, the Assignment of Overriding Royalty Interest (ORRIS) is a crucial legal agreement. It involves the transfer of a portion of the royalty interest to a third party, referred to as the assignee, in exchange for compensation. In some cases, the assignor may choose to reserve the right to pool the assigned interest. This means they can combine the assigned interest with other interests in more efficient management and extraction of oil or gas resources. There are different forms of the Los Angeles, California Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form. These variations depend on specific clauses and provisions included in the agreement. For instance, one form may focus on the duration of the pooling rights reserved by the assignor, while another may outline the conditions under which the pooling can occur. The main purpose of the short form of this agreement is to provide a concise and efficient representation of the assignment and the assignor's rights to pool the assigned interest. It typically includes essential details such as the exact assignment percentage, any limitations or restrictions on pooling, and the compensation terms for the assignor. Keywords: Los Angeles, California, Assignment of Overriding Royalty Interest, assignor, reserved right, pool, assigned interest, short form, oil and gas, extraction, resources, compensation, clauses, provisions, duration, limitations, restrictions, agreement.
