Clark Nevada Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the Right to Pool

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• County: Clark
• Control #: US-OG-691
• Format: Word; Rich Text

Description

This form is used by the Assignor to transfer, assign, and convey to Assignee an overriding royalty interest in multiple non-producing Leases. Clark Nevada Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the Right to Pool is a legal document that pertains to the transfer of the overriding royalty interest associated with multiple leases in the Clark County area of Nevada. This type of assignment typically occurs when the leases in question are not currently producing any oil, gas, or minerals. The Assignment of Overriding Royalty Interest with Multiple Leases involves the transfer of the rights to receive a certain percentage of the revenue generated from the production of oil, gas, or minerals on the leased properties. However, in cases where the leases are non-producing, this means that there is currently no active extraction or production taking place on the leased properties. One key aspect of this type of assignment is the reservation of the right to pool. Pooling refers to the combining of multiple leases or tracts of land into a single unit for the purpose of drilling and extracting minerals. By reserving the right to pool, the assignor of the overriding royalty interest maintains the ability to participate in future pooling activities, should they occur. Within the realm of Clark Nevada Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the Right to Pool, there can be different variations depending on the specific terms and conditions outlined in the document. Some potential types include: 1. Primary Assignment: This refers to the initial transfer of the overriding royalty interest from the assignor to the assignee. It establishes the basic parameters and rights associated with the assignment. 2. Extension Assignment: In cases where the original assignment has a set expiration date or duration, an extension assignment may be required to extend the validity of the assignment. 3. Amended Assignment: If any changes or modifications are made to the original assignment agreement, an amended assignment may be executed to reflect the updated terms and conditions. 4. Partial Assignment: Instead of assigning the entire overriding royalty interest, a partial assignment may occur where only a portion or percentage of the interest is transferred to the assignee. 5. Assignment with Diversionary Rights: In situations where the leased properties eventually begin producing, an assignment with diversionary rights can be employed. This allows for the assignor to reclaim the transferred overriding royalty interest once production commences. Overall, the Clark Nevada Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the Right to Pool serves as a pivotal legal document in the transfer and management of overriding royalty interests associated with non-producing leases in the Clark County area of Nevada.

Clark Nevada Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the Right to Pool is a legal document that pertains to the transfer of the overriding royalty interest associated with multiple leases in the Clark County area of Nevada. This type of assignment typically occurs when the leases in question are not currently producing any oil, gas, or minerals. The Assignment of Overriding Royalty Interest with Multiple Leases involves the transfer of the rights to receive a certain percentage of the revenue generated from the production of oil, gas, or minerals on the leased properties. However, in cases where the leases are non-producing, this means that there is currently no active extraction or production taking place on the leased properties. One key aspect of this type of assignment is the reservation of the right to pool. Pooling refers to the combining of multiple leases or tracts of land into a single unit for the purpose of drilling and extracting minerals. By reserving the right to pool, the assignor of the overriding royalty interest maintains the ability to participate in future pooling activities, should they occur. Within the realm of Clark Nevada Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the Right to Pool, there can be different variations depending on the specific terms and conditions outlined in the document. Some potential types include: 1. Primary Assignment: This refers to the initial transfer of the overriding royalty interest from the assignor to the assignee. It establishes the basic parameters and rights associated with the assignment. 2. Extension Assignment: In cases where the original assignment has a set expiration date or duration, an extension assignment may be required to extend the validity of the assignment. 3. Amended Assignment: If any changes or modifications are made to the original assignment agreement, an amended assignment may be executed to reflect the updated terms and conditions. 4. Partial Assignment: Instead of assigning the entire overriding royalty interest, a partial assignment may occur where only a portion or percentage of the interest is transferred to the assignee. 5. Assignment with Diversionary Rights: In situations where the leased properties eventually begin producing, an assignment with diversionary rights can be employed. This allows for the assignor to reclaim the transferred overriding royalty interest once production commences. Overall, the Clark Nevada Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the Right to Pool serves as a pivotal legal document in the transfer and management of overriding royalty interests associated with non-producing leases in the Clark County area of Nevada.