King Washington 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: King
• 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. In the oil and gas industry, a King Washington Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the Right to Pool refers to a specific type of legal agreement between a royalty owner and an oil and gas company. This transaction involves the assignment of an overriding royalty interest (ORRIS) from the royalty owner to the company in exchange for certain considerations. Keywords: King Washington, Assignment, Overriding Royalty Interest, Multiple Leases, Non Producing, Reservation, Right to Pool In the realm of King Washington Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the Right to Pool, there are several variations or subtypes, each with its unique characteristics and implications. These include: 1. King Washington Assignment of Non-Producing Overriding Royalty Interest with Right to Pool: This type involves the transfer of an ORRIS from a royalty owner to an oil and gas company when the leases in question are non-producing. The agreement also explicitly reserves the right to pool the leases for future production purposes. 2. King Washington Assignment of Non-Producing Overriding Royalty Interest with Right to Pool and Multiple Leases: Here, the ORRIS assignment involves multiple leases, all of which are non-producing. The agreement preserves the right to pool these leases, allowing for potential combined production operations in the future. 3. King Washington Assignment of Non-Producing Overriding Royalty Interest with Right to Pool and Reservation of Specific Leases: In this case, the assignment focuses on particular leases that are currently non-producing. The royalty owner assigns their ORRIS to the oil and gas company while reserving the right to incorporate these specific leases into a future pooling arrangement. 4. King Washington Assignment of Non-Producing Overriding Royalty Interest with Reservation of Right to Pool and Subsequent Leasing: This subtype involves an ORRIS assignment where the current leases are non-producing. However, it additionally reserves the right to pool these leases and then lease or acquire additional adjacent properties for future production purposes. In summary, a King Washington Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the Right to Pool is a legally binding agreement transferring an ORRIS from a royalty owner to an oil and gas company. It encompasses various subtypes, each tailored to specific situations involving non-producing leases and the reservation of the right to pool them for future production endeavors.

In the oil and gas industry, a King Washington Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the Right to Pool refers to a specific type of legal agreement between a royalty owner and an oil and gas company. This transaction involves the assignment of an overriding royalty interest (ORRIS) from the royalty owner to the company in exchange for certain considerations. Keywords: King Washington, Assignment, Overriding Royalty Interest, Multiple Leases, Non Producing, Reservation, Right to Pool In the realm of King Washington Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the Right to Pool, there are several variations or subtypes, each with its unique characteristics and implications. These include: 1. King Washington Assignment of Non-Producing Overriding Royalty Interest with Right to Pool: This type involves the transfer of an ORRIS from a royalty owner to an oil and gas company when the leases in question are non-producing. The agreement also explicitly reserves the right to pool the leases for future production purposes. 2. King Washington Assignment of Non-Producing Overriding Royalty Interest with Right to Pool and Multiple Leases: Here, the ORRIS assignment involves multiple leases, all of which are non-producing. The agreement preserves the right to pool these leases, allowing for potential combined production operations in the future. 3. King Washington Assignment of Non-Producing Overriding Royalty Interest with Right to Pool and Reservation of Specific Leases: In this case, the assignment focuses on particular leases that are currently non-producing. The royalty owner assigns their ORRIS to the oil and gas company while reserving the right to incorporate these specific leases into a future pooling arrangement. 4. King Washington Assignment of Non-Producing Overriding Royalty Interest with Reservation of Right to Pool and Subsequent Leasing: This subtype involves an ORRIS assignment where the current leases are non-producing. However, it additionally reserves the right to pool these leases and then lease or acquire additional adjacent properties for future production purposes. In summary, a King Washington Assignment of Overriding Royalty Interest with Multiple Leases that are Non Producing with Reservation of the Right to Pool is a legally binding agreement transferring an ORRIS from a royalty owner to an oil and gas company. It encompasses various subtypes, each tailored to specific situations involving non-producing leases and the reservation of the right to pool them for future production endeavors.