Wake North Carolina Assignment of Overriding Royalty Interest Limited As to Depth

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• County: Wake
• 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. Wake North Carolina Assignment of Overriding Royalty Interest Limited As to Depth refers to a legal agreement between a landowner and an oil and gas company. This agreement grants the company the right to extract and produce oil and gas from a specific depth range within the landowner's property in Wake County, North Carolina. The assignment of overriding royalty interest limited as to depth is a specialized agreement that outlines the specific depths at which the oil and gas company has the right to explore and extract resources. The agreement specifies the limited depth range, ensuring that the landowner retains control and rights over depths not included in the assigned range. This type of assignment plays a crucial role in defining the scope and limitations of the oil and gas company's activities on the property. It provides legal clarity and protects the landowner's interests while allowing for the exploration and extraction of resources at designated depths. Some possible variations or types of Wake North Carolina Assignment of Overriding Royalty Interest Limited As to Depth may include: 1. Specific Depth Range Limits: This assignment establishes a specific depth range within the property, granting the company exclusive rights to extract resources within that defined range. The agreement may also outline the landowner's rights and interests regarding depths outside this range. 2. Multiple Depth Intervals: In certain cases, the assignment may allow the company access to multiple depth intervals within a property, granting them the right to explore and extract oil and gas from various sections of the land at different depths. 3. Depth Range Amendment: This type of assignment allows for future amendments to the assigned depth range. It provides a mechanism for both the landowner and the company to modify the limits to accommodate changes in technology, market conditions, or other factors that may affect the viability of resource extraction. 4. Depth Exclusion Clauses: Some assignments may include clauses that exclude certain depths from the agreement, explicitly stating that the company does not have the right to explore or extract oil and gas from those excluded depths. This provides additional protection and control for the landowner. Wake North Carolina Assignment of Overriding Royalty Interest Limited As to Depth is a legally binding agreement designed to protect the rights of both the landowner and the oil and gas company operating in Wake County. It ensures clarity regarding the depths at which resource extraction can occur, facilitating a mutually beneficial relationship between the parties involved.

Wake North Carolina Assignment of Overriding Royalty Interest Limited As to Depth refers to a legal agreement between a landowner and an oil and gas company. This agreement grants the company the right to extract and produce oil and gas from a specific depth range within the landowner's property in Wake County, North Carolina. The assignment of overriding royalty interest limited as to depth is a specialized agreement that outlines the specific depths at which the oil and gas company has the right to explore and extract resources. The agreement specifies the limited depth range, ensuring that the landowner retains control and rights over depths not included in the assigned range. This type of assignment plays a crucial role in defining the scope and limitations of the oil and gas company's activities on the property. It provides legal clarity and protects the landowner's interests while allowing for the exploration and extraction of resources at designated depths. Some possible variations or types of Wake North Carolina Assignment of Overriding Royalty Interest Limited As to Depth may include: 1. Specific Depth Range Limits: This assignment establishes a specific depth range within the property, granting the company exclusive rights to extract resources within that defined range. The agreement may also outline the landowner's rights and interests regarding depths outside this range. 2. Multiple Depth Intervals: In certain cases, the assignment may allow the company access to multiple depth intervals within a property, granting them the right to explore and extract oil and gas from various sections of the land at different depths. 3. Depth Range Amendment: This type of assignment allows for future amendments to the assigned depth range. It provides a mechanism for both the landowner and the company to modify the limits to accommodate changes in technology, market conditions, or other factors that may affect the viability of resource extraction. 4. Depth Exclusion Clauses: Some assignments may include clauses that exclude certain depths from the agreement, explicitly stating that the company does not have the right to explore or extract oil and gas from those excluded depths. This provides additional protection and control for the landowner. Wake North Carolina Assignment of Overriding Royalty Interest Limited As to Depth is a legally binding agreement designed to protect the rights of both the landowner and the oil and gas company operating in Wake County. It ensures clarity regarding the depths at which resource extraction can occur, facilitating a mutually beneficial relationship between the parties involved.