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.
Description: A Kings New York Partial Assignment of Oil and Gas Lease for part of lands subject to a nonproducing lease is a legal document that transfers a portion of the rights and interests in an oil and gas lease from one party to another. This assignment is specifically designed for lands located in Kings County, New York, and is applicable when the original lease is nonproducing, meaning that no oil or gas production is currently taking place on the leased property. Keywords: Kings New York, Partial Assignment, Oil and Gas Lease, Nonproducing Lease, lands, rights, interests, legal document, transfer, party, oil, gas production, Kings County, New York. Different types of Kings New York Partial Assignment of Oil and Gas Lease for Part of Lands Subject to Nonproducing Lease may include: 1. Standard Partial Assignment: This type of assignment transfers a specified percentage or portion of the oil and gas lease rights and interests from the assignor to the assignee. It outlines the details, terms, and conditions of the transfer, such as the size of the area being assigned and any specific limitations or restrictions. 2. Partial Assignment with Royalty Interest: In addition to transferring a portion of the lease, this type of assignment also includes the assignment of a percentage of the royalty interest. The assignee not only gains the rights to the oil and gas but also becomes entitled to a portion of the future revenue generated from production on the assigned lands. 3. Partial Assignment with Surface Rights: This assignment not only transfers a part of the lease but also includes the surface rights associated with the assigned lands. The assignee obtains the rights to access and utilize the surface area for exploration, drilling, and extraction activities related to oil and gas production. Note: The specific type of Kings New York Partial Assignment of Oil and Gas Lease for Part of Lands Subject to Nonproducing Lease may vary depending on the terms negotiated between the parties involved and the specific requirements of the situation.Description: A Kings New York Partial Assignment of Oil and Gas Lease for part of lands subject to a nonproducing lease is a legal document that transfers a portion of the rights and interests in an oil and gas lease from one party to another. This assignment is specifically designed for lands located in Kings County, New York, and is applicable when the original lease is nonproducing, meaning that no oil or gas production is currently taking place on the leased property. Keywords: Kings New York, Partial Assignment, Oil and Gas Lease, Nonproducing Lease, lands, rights, interests, legal document, transfer, party, oil, gas production, Kings County, New York. Different types of Kings New York Partial Assignment of Oil and Gas Lease for Part of Lands Subject to Nonproducing Lease may include: 1. Standard Partial Assignment: This type of assignment transfers a specified percentage or portion of the oil and gas lease rights and interests from the assignor to the assignee. It outlines the details, terms, and conditions of the transfer, such as the size of the area being assigned and any specific limitations or restrictions. 2. Partial Assignment with Royalty Interest: In addition to transferring a portion of the lease, this type of assignment also includes the assignment of a percentage of the royalty interest. The assignee not only gains the rights to the oil and gas but also becomes entitled to a portion of the future revenue generated from production on the assigned lands. 3. Partial Assignment with Surface Rights: This assignment not only transfers a part of the lease but also includes the surface rights associated with the assigned lands. The assignee obtains the rights to access and utilize the surface area for exploration, drilling, and extraction activities related to oil and gas production. Note: The specific type of Kings New York Partial Assignment of Oil and Gas Lease for Part of Lands Subject to Nonproducing Lease may vary depending on the terms negotiated between the parties involved and the specific requirements of the situation.
