This form is used when the Assignor wishes to convey, assign and sell to the Assignee an undivided working interest in an oil and gas lease but reserves an overriding royalty interest payable on all oil, gas, and associated hydrocarbons produced, saved and sold from the Lands.
Collin Texas Partial Assignment of Oil and Gas Lease for Part of Lands Subject to Nonproducing Lease refers to the transfer of a portion of an existing oil and gas lease in Collin County, Texas. This type of assignment allows the assignor to transfer their rights, interests, and obligations pertaining to the lease to another party, specifically for a portion of the leased lands that are not currently producing oil or gas. Keywords: Collin Texas, partial assignment, oil and gas lease, nonproducing lease, lands, transfer, rights, interests, obligations. Different types of Collin Texas Partial Assignment of Oil and Gas Lease for Part of Lands Subject to Nonproducing Lease can include: 1. Partial Assignment of Oil and Gas Lease: This type of assignment involves the transfer of a portion of the original lease agreement to another party while retaining ownership and control over the remaining portion of the leased lands. 2. Nonproducing Lease Assignment: It specifically refers to the transfer of a nonproducing lease, which means that the leased lands are presently not yielding any oil or gas production. This type of assignment can provide opportunities for new operators to explore and develop the potential resources of the nonproducing lands. 3. Collin County Texas Assignment: This aspect focuses on the geographic location of the assignment, which is Collin County, Texas. Collin County has a significant presence in the oil and gas industry and is home to various productive oil and gas fields. 4. Lands Subject to Assignment: It specifies the lands or acreage that is subject to the partial assignment within the nonproducing lease. It could be a specific portion or designated area within the broader leasehold. 5. Rights, Interests, and Obligations: These are key aspects of the assignment, which are being transferred from the assignor to the assignee. It includes the right to explore, extract, and produce oil and gas resources from the assigned portion of the leased lands, as well as related responsibilities and obligations. Overall, the Collin Texas Partial Assignment of Oil and Gas Lease for Part of Lands Subject to Nonproducing Lease enables parties to maximize the potential of nonproducing leasehold interests by transferring specific rights and obligations to interested operators or investors.Collin Texas Partial Assignment of Oil and Gas Lease for Part of Lands Subject to Nonproducing Lease refers to the transfer of a portion of an existing oil and gas lease in Collin County, Texas. This type of assignment allows the assignor to transfer their rights, interests, and obligations pertaining to the lease to another party, specifically for a portion of the leased lands that are not currently producing oil or gas. Keywords: Collin Texas, partial assignment, oil and gas lease, nonproducing lease, lands, transfer, rights, interests, obligations. Different types of Collin Texas Partial Assignment of Oil and Gas Lease for Part of Lands Subject to Nonproducing Lease can include: 1. Partial Assignment of Oil and Gas Lease: This type of assignment involves the transfer of a portion of the original lease agreement to another party while retaining ownership and control over the remaining portion of the leased lands. 2. Nonproducing Lease Assignment: It specifically refers to the transfer of a nonproducing lease, which means that the leased lands are presently not yielding any oil or gas production. This type of assignment can provide opportunities for new operators to explore and develop the potential resources of the nonproducing lands. 3. Collin County Texas Assignment: This aspect focuses on the geographic location of the assignment, which is Collin County, Texas. Collin County has a significant presence in the oil and gas industry and is home to various productive oil and gas fields. 4. Lands Subject to Assignment: It specifies the lands or acreage that is subject to the partial assignment within the nonproducing lease. It could be a specific portion or designated area within the broader leasehold. 5. Rights, Interests, and Obligations: These are key aspects of the assignment, which are being transferred from the assignor to the assignee. It includes the right to explore, extract, and produce oil and gas resources from the assigned portion of the leased lands, as well as related responsibilities and obligations. Overall, the Collin Texas Partial Assignment of Oil and Gas Lease for Part of Lands Subject to Nonproducing Lease enables parties to maximize the potential of nonproducing leasehold interests by transferring specific rights and obligations to interested operators or investors.
