Allegheny Pennsylvania Assignment of Overriding Royalty Interest Limited As to Depth

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• County: Allegheny
• Control #: US-OG-290
• 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, which is limited to depth. Allegheny County, Pennsylvania, is located in the southwestern part of the state and is home to the city of Pittsburgh. It is a diverse and vibrant county known for its rich history, cultural attractions, and economic significance. In the oil and gas industry, there exists a legal instrument known as an "Assignment of Overriding Royalty Interest Limited As to Depth" in Allegheny County, Pennsylvania. This assignment is a contractual agreement between parties involved in oil and gas leases, where the parties assign or transfer their overriding royalty interests to another party but with certain depth limitations. The purpose of this assignment is to limit the royalty interest to a specified depth within the property. This ensures that the assignee only receives royalties for the production occurring at or below the specified depth, while the assignor retains the rights to any royalties generated from production above that depth. In Allegheny County, there may be different types of Assignment of Overriding Royalty Interest Limited As to Depth based on various factors. Some possible types could be: 1. Depth Limitation: This type of assignment specifies a particular depth, such as a specific stratigraphic formation or geological layer, up to which the assignee's royalty interest applies. Production occurring below this depth generates royalties for the assignee, while production above it belongs to the assignor. 2. Multi-depth Assignment: In some cases, more than one specified depth limitations may exist within an assignment, allowing for multiple levels of royalty interests. This allows owners to separate their interests based on different depths for easier management and valuation. 3. Depth Percentage Allocation: This type of assignment assigns a percentage of royalty interest based on the depth. For example, the assignment may allocate 70% of the overriding royalty interest to a particular depth and 30% to any production occurring above that depth. These different types of Assignment of Overriding Royalty Interest Limited As to Depth provide flexibility and structure for parties involved in oil and gas leases in Allegheny County, Pennsylvania. It allows for the customization of royalty interests based on geological characteristics and the preferences of the assignor and assignee. When entering into any Assignment of Overriding Royalty Interest Limited As to Depth, it is crucial to seek legal advice, ensuring all agreements are properly drafted, reviewed, and recorded. Understanding the specific terms and limitations of the assignment is essential for all parties involved in oil and gas ventures in Allegheny County, Pennsylvania.

Allegheny County, Pennsylvania, is located in the southwestern part of the state and is home to the city of Pittsburgh. It is a diverse and vibrant county known for its rich history, cultural attractions, and economic significance. In the oil and gas industry, there exists a legal instrument known as an "Assignment of Overriding Royalty Interest Limited As to Depth" in Allegheny County, Pennsylvania. This assignment is a contractual agreement between parties involved in oil and gas leases, where the parties assign or transfer their overriding royalty interests to another party but with certain depth limitations. The purpose of this assignment is to limit the royalty interest to a specified depth within the property. This ensures that the assignee only receives royalties for the production occurring at or below the specified depth, while the assignor retains the rights to any royalties generated from production above that depth. In Allegheny County, there may be different types of Assignment of Overriding Royalty Interest Limited As to Depth based on various factors. Some possible types could be: 1. Depth Limitation: This type of assignment specifies a particular depth, such as a specific stratigraphic formation or geological layer, up to which the assignee's royalty interest applies. Production occurring below this depth generates royalties for the assignee, while production above it belongs to the assignor. 2. Multi-depth Assignment: In some cases, more than one specified depth limitations may exist within an assignment, allowing for multiple levels of royalty interests. This allows owners to separate their interests based on different depths for easier management and valuation. 3. Depth Percentage Allocation: This type of assignment assigns a percentage of royalty interest based on the depth. For example, the assignment may allocate 70% of the overriding royalty interest to a particular depth and 30% to any production occurring above that depth. These different types of Assignment of Overriding Royalty Interest Limited As to Depth provide flexibility and structure for parties involved in oil and gas leases in Allegheny County, Pennsylvania. It allows for the customization of royalty interests based on geological characteristics and the preferences of the assignor and assignee. When entering into any Assignment of Overriding Royalty Interest Limited As to Depth, it is crucial to seek legal advice, ensuring all agreements are properly drafted, reviewed, and recorded. Understanding the specific terms and limitations of the assignment is essential for all parties involved in oil and gas ventures in Allegheny County, Pennsylvania.