Fulton Georgia Assignment of Overriding Royalty Interest Convertible to A Working Interest At Assignee's Option

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• County: Fulton
• Control #: US-OG-288
• Format: Word; Rich Text

Description

This form is used by the Assignor to transfer, assign, and convey to Assignee overriding royalty interest in a Lease and all oil, gas and other minerals produced, saved and sold from the Lease and Land convertable to a working interest. A Fulton Georgia Assignment of Overriding Royalty Interest Convertible to a Working Interest at Assignee's Option is a legal contract that pertains to the transfer of a royalty interest in oil and gas properties located within Fulton County, Georgia. This agreement allows the assignee (the party to whom the interest is transferred) the option to convert the overriding royalty interest into a working interest. An overriding royalty interest represents a share of production revenue from oil and gas wells, usually payable to the interest holder after the costs of drilling and operating the wells have been deducted. In contrast, a working interest includes both the right to a share of production revenue and the obligation to bear a proportionate share of the costs associated with drilling, completion, and operation of the wells. The assignment gives the assignee the flexibility to choose whether they want to receive a passive royalty interest or an active working interest. This option can be exercised based on various factors, including market conditions, the assignee's financial capacity, and the forecasted productivity of the wells. Within the category of Fulton Georgia Assignment of Overriding Royalty Interest Convertible to a Working Interest At Assignee's Option, there may be some variations or different types of contracts. Some potential differentiating factors could be the duration of the agreement, the specific wells or properties covered, the percentage of overriding royalty interest being assigned, or any additional terms and conditions negotiated between the parties involved. Keywords: Fulton Georgia, assignment, overriding royalty interest, convertible, working interest, assignee's option, oil, gas, properties, contract, transfer, production revenue, drilling, operating costs, passive, active, market conditions, financial capacity, productivity, variation, duration, wells, properties, terms and conditions.

A Fulton Georgia Assignment of Overriding Royalty Interest Convertible to a Working Interest at Assignee's Option is a legal contract that pertains to the transfer of a royalty interest in oil and gas properties located within Fulton County, Georgia. This agreement allows the assignee (the party to whom the interest is transferred) the option to convert the overriding royalty interest into a working interest. An overriding royalty interest represents a share of production revenue from oil and gas wells, usually payable to the interest holder after the costs of drilling and operating the wells have been deducted. In contrast, a working interest includes both the right to a share of production revenue and the obligation to bear a proportionate share of the costs associated with drilling, completion, and operation of the wells. The assignment gives the assignee the flexibility to choose whether they want to receive a passive royalty interest or an active working interest. This option can be exercised based on various factors, including market conditions, the assignee's financial capacity, and the forecasted productivity of the wells. Within the category of Fulton Georgia Assignment of Overriding Royalty Interest Convertible to a Working Interest At Assignee's Option, there may be some variations or different types of contracts. Some potential differentiating factors could be the duration of the agreement, the specific wells or properties covered, the percentage of overriding royalty interest being assigned, or any additional terms and conditions negotiated between the parties involved. Keywords: Fulton Georgia, assignment, overriding royalty interest, convertible, working interest, assignee's option, oil, gas, properties, contract, transfer, production revenue, drilling, operating costs, passive, active, market conditions, financial capacity, productivity, variation, duration, wells, properties, terms and conditions.