Salt Lake Utah Assignment of Overriding Royalty Interest Limited As to Depth

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• County: Salt Lake
• 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. Salt Lake City, Utah is the capital city of Utah and is located in the northern part of the state. It is situated within Salt Lake County and is surrounded by the stunning Wasatch Mountains. The city is famous for being the headquarters of the Church of Jesus Christ of Latter-Day Saints, also known as the Mormon Church. When it comes to the Salt Lake Utah Assignment of Overriding Royalty Interest Limited As to Depth, it refers to a legal arrangement in the oil and gas industry. An overriding royalty interest (ORRIS) is a non-operating interest where the holder receives a portion of the revenue generated from the production of oil and gas from a specific lease. Orris are often assigned or transferred to another party, and the assignment can be limited as to depth. There are various types of Salt Lake Utah Assignment of Overriding Royalty Interest Limited As to Depth, based on the specific depth range and terms included in the assignment. Some common types include: 1. Standard Limited Depth Assignment: This type of assignment restricts the overriding royalty interest to a specific depth range within a lease. It may include limitations based on specific geological formations or zones within the lease. 2. Vertical Depth Limited Assignment: In this case, the overriding royalty interest is limited to a specific vertical depth within the lease. It ensures that the interest holder only receives royalties from production activities occurring within the predetermined depth range. 3. Horizontal Depth Limited Assignment: This type of assignment limits the overriding royalty interest to a specific horizontal depth range within the lease. It is often seen in cases where drilling techniques such as horizontal drilling are employed to extract oil and gas from specific reservoirs. 4. Formation-Specific Limited Assignment: This assignment limits the overriding royalty interest to production from a specific geological formation or reservoir within the lease. It ensures that the interest holder receives royalties only from the designated formation, which might be more prolific in terms of oil and gas production. 5. Zone-Specific Limited Assignment: This type of limited depth assignment restricts the overriding royalty interest to a specific zone or layer within the lease. It could be based on characteristics such as permeability or porosity of the zone, indicating its potential for oil and gas extraction. It's important to note that the specific terms and conditions of these assignments can vary based on the agreements between the parties involved. The Salt Lake Utah Assignment of Overriding Royalty Interest Limited As to Depth provides a means for parties to negotiate and define the scope of the overriding royalty interest to suit their needs and interests.

Salt Lake City, Utah is the capital city of Utah and is located in the northern part of the state. It is situated within Salt Lake County and is surrounded by the stunning Wasatch Mountains. The city is famous for being the headquarters of the Church of Jesus Christ of Latter-Day Saints, also known as the Mormon Church. When it comes to the Salt Lake Utah Assignment of Overriding Royalty Interest Limited As to Depth, it refers to a legal arrangement in the oil and gas industry. An overriding royalty interest (ORRIS) is a non-operating interest where the holder receives a portion of the revenue generated from the production of oil and gas from a specific lease. Orris are often assigned or transferred to another party, and the assignment can be limited as to depth. There are various types of Salt Lake Utah Assignment of Overriding Royalty Interest Limited As to Depth, based on the specific depth range and terms included in the assignment. Some common types include: 1. Standard Limited Depth Assignment: This type of assignment restricts the overriding royalty interest to a specific depth range within a lease. It may include limitations based on specific geological formations or zones within the lease. 2. Vertical Depth Limited Assignment: In this case, the overriding royalty interest is limited to a specific vertical depth within the lease. It ensures that the interest holder only receives royalties from production activities occurring within the predetermined depth range. 3. Horizontal Depth Limited Assignment: This type of assignment limits the overriding royalty interest to a specific horizontal depth range within the lease. It is often seen in cases where drilling techniques such as horizontal drilling are employed to extract oil and gas from specific reservoirs. 4. Formation-Specific Limited Assignment: This assignment limits the overriding royalty interest to production from a specific geological formation or reservoir within the lease. It ensures that the interest holder receives royalties only from the designated formation, which might be more prolific in terms of oil and gas production. 5. Zone-Specific Limited Assignment: This type of limited depth assignment restricts the overriding royalty interest to a specific zone or layer within the lease. It could be based on characteristics such as permeability or porosity of the zone, indicating its potential for oil and gas extraction. It's important to note that the specific terms and conditions of these assignments can vary based on the agreements between the parties involved. The Salt Lake Utah Assignment of Overriding Royalty Interest Limited As to Depth provides a means for parties to negotiate and define the scope of the overriding royalty interest to suit their needs and interests.