Los Angeles California Assignment of Overriding Royalty Interest by Working Interest Owner, Single Lease, Stated Percentage

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• County: Los Angeles
• Control #: US-OG-287
• 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. Los Angeles, California is an iconic city located in Southern California. It is known for its stunning beaches, diverse culture, vibrant entertainment industry, and bustling urban lifestyle. Popular attractions in Los Angeles include the Hollywood Walk of Fame, Universal Studios, the Getty Center, Griffith Observatory, and numerous world-class shopping and dining destinations. When it comes to the oil and gas industry, Los Angeles also plays a significant role. In this region, there are various types of assignments of overriding royalty interest in working interest owners for single leases with stated percentages. One type of assignment of overriding royalty interest is the "Temporary Transfer Assignment." This type allows the working interest owner to temporarily transfer their overriding royalty interest to another party for a predetermined period. This can be beneficial for companies that require additional resources or expertise to exploit the potential of a specific lease or project. Another variant is the "Permanent Transfer Assignment." Under this type, the working interest owner permanently transfers their overriding royalty interest to another party. This could occur due to various reasons such as financial restructuring, divestment, or changes in business strategies. Additionally, the "Partial Assignment" is a type where the working interest owner assigns a portion of their overriding royalty interest to another party while retaining partial ownership. This allows for risk-sharing and diversification of interests. Furthermore, the "Percentage Assignment" is a type of assignment where the working interest owner specifies a stated percentage of their overriding royalty interest being assigned to another party. This can be advantageous for both parties, as it allows for clear and defined ownership rights. In conclusion, Los Angeles, California is not only a city renowned for its cultural significance, but it also serves as a hub for various types of assignments of overriding royalty interest in working interest owners. Whether it's through temporary transfers, permanent transfers, partial assignments, or percentage assignments, these arrangements play a vital role in the oil and gas industry in this region.

Los Angeles, California is an iconic city located in Southern California. It is known for its stunning beaches, diverse culture, vibrant entertainment industry, and bustling urban lifestyle. Popular attractions in Los Angeles include the Hollywood Walk of Fame, Universal Studios, the Getty Center, Griffith Observatory, and numerous world-class shopping and dining destinations. When it comes to the oil and gas industry, Los Angeles also plays a significant role. In this region, there are various types of assignments of overriding royalty interest in working interest owners for single leases with stated percentages. One type of assignment of overriding royalty interest is the "Temporary Transfer Assignment." This type allows the working interest owner to temporarily transfer their overriding royalty interest to another party for a predetermined period. This can be beneficial for companies that require additional resources or expertise to exploit the potential of a specific lease or project. Another variant is the "Permanent Transfer Assignment." Under this type, the working interest owner permanently transfers their overriding royalty interest to another party. This could occur due to various reasons such as financial restructuring, divestment, or changes in business strategies. Additionally, the "Partial Assignment" is a type where the working interest owner assigns a portion of their overriding royalty interest to another party while retaining partial ownership. This allows for risk-sharing and diversification of interests. Furthermore, the "Percentage Assignment" is a type of assignment where the working interest owner specifies a stated percentage of their overriding royalty interest being assigned to another party. This can be advantageous for both parties, as it allows for clear and defined ownership rights. In conclusion, Los Angeles, California is not only a city renowned for its cultural significance, but it also serves as a hub for various types of assignments of overriding royalty interest in working interest owners. Whether it's through temporary transfers, permanent transfers, partial assignments, or percentage assignments, these arrangements play a vital role in the oil and gas industry in this region.