A Cook Illinois Assignment of Overriding Royalty Interest with Multiple Leases that are Non-Producing with Reservation of the Right to Pool refers to a legal agreement that allows a third party to acquire overriding royalty interests (ORI's) in multiple oil and gas leases located in Cook County, Illinois. This particular assignment focuses on leases that are currently non-producing, indicating that no active drilling or production activities are taking place on the leased properties. In this agreement, the assigning party grants the assigned party the right to collect a percentage of the oil and gas revenue generated from potential future production on these leases. The assigned party becomes entitled to receive a share of the proceeds from any oil or gas extracted from the leased properties, even if they were not involved in the initial lease negotiation. The reservation of the right to pool signifies that the owner of the overriding royalty interest reserves the ability to combine or pool the leased properties with other adjacent properties to optimize production activities. Pooling allows for more efficient drilling and extraction techniques, enhancing the overall productivity and profitability of the assigned ORI's. Different types of Cook Illinois Assignment of Overriding Royalty Interest with Multiple Leases that are Non-Producing with Reservation of the Right to Pool may include variations in the percentage of override royalty interest assigned, the duration of the assignment, and any additional clauses or provisions specific to the agreement. Additionally, the specific oil and gas leases involved, their legal descriptions, and related geographical locations may differ from case to case. Keywords: Cook Illinois, Assignment of Overriding Royalty Interest, Multiple Leases, Non-Producing, Reservation of the Right to Pool, oil and gas, revenue, drilling, production, assigned party, leasing agreements, pooling, efficiency, profit-sharing, legal description, geographical location.
Cook Illinois Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the Right to Pool
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