Wake North Carolina Assignment of Overriding Royalty Interest by Working Interest Owner, Single Lease, Stated Percentage

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• County: Wake
• 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. Wake North Carolina Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage is a legal document that transfers the rights and ownership of a portion of the overriding royalty interest (ORRIS) from the working interest owner to another party. This assignment pertains specifically to Wake County, North Carolina. An overriding royalty interest is a share of the proceeds from the production of oil, gas, or mineral resources that is reserved or created out of the working interest. This means that the party holding the ORRIS does not bear the cost of drilling or operating the well but still receives a percentage of the revenue generated from the lease. The Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage allows the working interest owner to assign a specific percentage of the overriding royalty interest to another party. This assignment can occur when the working interest owner wants to sell or transfer a portion of their ORRIS to someone else. Some relevant keywords for this document could include: — Wake North Carolina Assignment of Overriding Royalty Interest — Working InteresOnene— - Single Lease - Stated Percentage — Oil and Gas Leas— - Mineral Rights - Property Ownership Transfer — Revenue SharinAgreementen— - North Carolina Energy Industry It's worth noting that there might be variations or alternative terms used for this type of assignment, such as "Transfer of Overriding Royalty Interest" or "Conveyance of ORRIS". However, the core elements of the document remain the same, focusing on the transfer of ORRIS from a working interest owner to another party within a single lease in Wake County, North Carolina.

Wake North Carolina Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage is a legal document that transfers the rights and ownership of a portion of the overriding royalty interest (ORRIS) from the working interest owner to another party. This assignment pertains specifically to Wake County, North Carolina. An overriding royalty interest is a share of the proceeds from the production of oil, gas, or mineral resources that is reserved or created out of the working interest. This means that the party holding the ORRIS does not bear the cost of drilling or operating the well but still receives a percentage of the revenue generated from the lease. The Assignment of Overriding Royalty Interest in Working Interest Owner, Single Lease, Stated Percentage allows the working interest owner to assign a specific percentage of the overriding royalty interest to another party. This assignment can occur when the working interest owner wants to sell or transfer a portion of their ORRIS to someone else. Some relevant keywords for this document could include: — Wake North Carolina Assignment of Overriding Royalty Interest — Working InteresOnene— - Single Lease - Stated Percentage — Oil and Gas Leas— - Mineral Rights - Property Ownership Transfer — Revenue SharinAgreementen— - North Carolina Energy Industry It's worth noting that there might be variations or alternative terms used for this type of assignment, such as "Transfer of Overriding Royalty Interest" or "Conveyance of ORRIS". However, the core elements of the document remain the same, focusing on the transfer of ORRIS from a working interest owner to another party within a single lease in Wake County, North Carolina.