Fairfax Virginia 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: Fairfax
• 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. Fairfax, Virginia Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the Right to Pool involves the transfer of a portion of the royalty interest rights in an oil or gas lease to a third party in the Fairfax, Virginia area. This assignment is applicable when there are multiple leases in place that have not commenced production and include the provision of the right to pool. An overriding royalty interest (ORRIS) is a share of the proceeds from the sale of oil or gas production, typically expressed as a percentage, that is granted to a party other than the leaseholder or working interest owner. In the Fairfax, Virginia region, there are several types of Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the Right to Pool: 1. Fairfax County Assignment of Overriding Royalty Interest: This specific type of assignment pertains to properties located in Fairfax County, Virginia. It establishes the transfer of ORRIS rights and the reserved right to pool among multiple non-producing leases in this particular geographical area. 2. Fairfax City Assignment of Overriding Royalty Interest: This type of assignment focuses on properties within Fairfax City, Virginia. It follows the same principles as the Fairfax County assignment but is applicable to properties located within the city limits. 3. Fairfax Assignment of Overriding Royalty Interest with Pooling Rights: This assignment involves the transfer of ORRIS rights among non-producing leases in Fairfax, Virginia, while specifically reserving the right to pool these leases. Pooling allows the lease operator to combine adjacent or nearby leases to efficiently exploit the oil or gas reservoirs beneath multiple properties. 4. Fairfax Assignment of Overriding Royalty Interest with Multiple Non-Producing Leases: This generic assignment encompasses the transfer of ORRIS rights in the non-producing leases located within Fairfax, Virginia. While it does not specifically mention pooling rights, it may still include them if both parties agree. These variations of assignments often involve detailed legal documentation, including the identification of the leases, parties involved, specific ORRIS percentage, and the terms and conditions of the right to pool. It is crucial to consult legal professionals experienced in oil and gas transactions to ensure the validity and enforceability of these assignments.

Fairfax, Virginia Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the Right to Pool involves the transfer of a portion of the royalty interest rights in an oil or gas lease to a third party in the Fairfax, Virginia area. This assignment is applicable when there are multiple leases in place that have not commenced production and include the provision of the right to pool. An overriding royalty interest (ORRIS) is a share of the proceeds from the sale of oil or gas production, typically expressed as a percentage, that is granted to a party other than the leaseholder or working interest owner. In the Fairfax, Virginia region, there are several types of Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the Right to Pool: 1. Fairfax County Assignment of Overriding Royalty Interest: This specific type of assignment pertains to properties located in Fairfax County, Virginia. It establishes the transfer of ORRIS rights and the reserved right to pool among multiple non-producing leases in this particular geographical area. 2. Fairfax City Assignment of Overriding Royalty Interest: This type of assignment focuses on properties within Fairfax City, Virginia. It follows the same principles as the Fairfax County assignment but is applicable to properties located within the city limits. 3. Fairfax Assignment of Overriding Royalty Interest with Pooling Rights: This assignment involves the transfer of ORRIS rights among non-producing leases in Fairfax, Virginia, while specifically reserving the right to pool these leases. Pooling allows the lease operator to combine adjacent or nearby leases to efficiently exploit the oil or gas reservoirs beneath multiple properties. 4. Fairfax Assignment of Overriding Royalty Interest with Multiple Non-Producing Leases: This generic assignment encompasses the transfer of ORRIS rights in the non-producing leases located within Fairfax, Virginia. While it does not specifically mention pooling rights, it may still include them if both parties agree. These variations of assignments often involve detailed legal documentation, including the identification of the leases, parties involved, specific ORRIS percentage, and the terms and conditions of the right to pool. It is crucial to consult legal professionals experienced in oil and gas transactions to ensure the validity and enforceability of these assignments.