Cook Illinois Assignment of Overriding Royalty Interest Limited As to Depth

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• County: Cook
• 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. Cook Illinois Assignment of Overriding Royalty Interest Limited As to Depth is a legal document that pertains to the assignment of overriding royalty interests in the state of Illinois, specifically limited to depth. This assignment grants the assignee a specified portion of the royalties derived from the production of oil and gas from a specific depth range within a particular property. One type of Cook Illinois Assignment of Overriding Royalty Interest Limited As to Depth is the Conventional Assignment. This involves the assignment of overriding royalty interests from conventional oil and gas wells that produce from traditional reservoir formations. Another type is the Unconventional Assignment. This refers to the assignment of overriding royalty interests from unconventional oil and gas wells, such as those involved in hydraulic fracturing (fracking) or horizontal drilling. These types of assignments usually require specialized knowledge and expertise due to the unique nature of unconventional reservoirs. The Cook Illinois Assignment of Overriding Royalty Interest Limited As to Depth specifies the depth range at which the assignee will receive a portion of the royalties. This depth range can vary depending on the geology and characteristics of the specific property, as well as the terms negotiated between the assignor and assignee. It is crucial to note that the assignment is limited to depth, meaning that the assignee's overriding royalty interest only applies to the production from the specified depth range. Any production from depths outside the assigned range would not be subject to the assignee's royalty interests. The purpose of this assignment is to allow individuals or companies to participate in the potential financial benefits of oil and gas production within a specific depth range, without requiring them to fully operate or own the property themselves. By investing in the assigned overriding royalty interest, assignees can potentially earn a steady stream of income based on the production from wells within the defined depth range. Overall, the Cook Illinois Assignment of Overriding Royalty Interest Limited As to Depth is a legal instrument that enables assignees to participate in the economic benefits of oil and gas production within a designated depth range, while mitigating the risks and responsibilities associated with owning and operating the property themselves.

Cook Illinois Assignment of Overriding Royalty Interest Limited As to Depth is a legal document that pertains to the assignment of overriding royalty interests in the state of Illinois, specifically limited to depth. This assignment grants the assignee a specified portion of the royalties derived from the production of oil and gas from a specific depth range within a particular property. One type of Cook Illinois Assignment of Overriding Royalty Interest Limited As to Depth is the Conventional Assignment. This involves the assignment of overriding royalty interests from conventional oil and gas wells that produce from traditional reservoir formations. Another type is the Unconventional Assignment. This refers to the assignment of overriding royalty interests from unconventional oil and gas wells, such as those involved in hydraulic fracturing (fracking) or horizontal drilling. These types of assignments usually require specialized knowledge and expertise due to the unique nature of unconventional reservoirs. The Cook Illinois Assignment of Overriding Royalty Interest Limited As to Depth specifies the depth range at which the assignee will receive a portion of the royalties. This depth range can vary depending on the geology and characteristics of the specific property, as well as the terms negotiated between the assignor and assignee. It is crucial to note that the assignment is limited to depth, meaning that the assignee's overriding royalty interest only applies to the production from the specified depth range. Any production from depths outside the assigned range would not be subject to the assignee's royalty interests. The purpose of this assignment is to allow individuals or companies to participate in the potential financial benefits of oil and gas production within a specific depth range, without requiring them to fully operate or own the property themselves. By investing in the assigned overriding royalty interest, assignees can potentially earn a steady stream of income based on the production from wells within the defined depth range. Overall, the Cook Illinois Assignment of Overriding Royalty Interest Limited As to Depth is a legal instrument that enables assignees to participate in the economic benefits of oil and gas production within a designated depth range, while mitigating the risks and responsibilities associated with owning and operating the property themselves.