Tarrant Texas 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: Tarrant
• 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. Tarrant Texas Assignment of Overriding Royalty Interest with Multiple Leases that are Non-Producing with Reservation of the Right to Pool: In Tarrant County, Texas, an Assignment of Overriding Royalty Interest with Multiple Leases that are Non-Producing with Reservation of the Right to Pool refers to a legal document that enables the transfer of an overriding royalty interest from one party to another. This assignment specifically applies to multiple leases that are currently non-producing, meaning they are not actively extracting oil, gas, or other minerals. The overriding royalty interest is a type of interest in an oil, gas, or mineral lease that grants the holder a share in the revenue generated from production, typically above and beyond the standard royalty interest. This assignment allows the current holder of the overriding royalty interest to transfer their rights and entitlements to another party. It is important to note that these leases are currently non-producing, indicating that no extraction activities are taking place at the moment. However, the assignment includes a reservation of the right to pool these leases. Pooling, also known as unitization, involves combining multiple leases or drilling units to optimize production efficiency and increase overall profitability. By reserving the right to pool these non-producing leases, the assignee can potentially pool them with other leases or units in the future if deemed beneficial. Keywords: Tarrant Texas, Assignment, Overriding Royalty Interest, Multiple Leases, Non-Producing, Reservation, Right to Pool, Tarrant County, Texas, Oil, Gas, Minerals, Transfer, Revenue, Production, Extraction, Pooling, Unitization. Different types of Tarrant Texas Assignment of Overriding Royalty Interest with Multiple Leases that are Non-Producing with Reservation of the Right to Pool may include variations based on specific lease provisions, parties involved, or distinct legal requirements. However, the core concept of transferring the overriding royalty interest and reserving the right to pool remains consistent throughout these agreements.

Tarrant Texas Assignment of Overriding Royalty Interest with Multiple Leases that are Non-Producing with Reservation of the Right to Pool: In Tarrant County, Texas, an Assignment of Overriding Royalty Interest with Multiple Leases that are Non-Producing with Reservation of the Right to Pool refers to a legal document that enables the transfer of an overriding royalty interest from one party to another. This assignment specifically applies to multiple leases that are currently non-producing, meaning they are not actively extracting oil, gas, or other minerals. The overriding royalty interest is a type of interest in an oil, gas, or mineral lease that grants the holder a share in the revenue generated from production, typically above and beyond the standard royalty interest. This assignment allows the current holder of the overriding royalty interest to transfer their rights and entitlements to another party. It is important to note that these leases are currently non-producing, indicating that no extraction activities are taking place at the moment. However, the assignment includes a reservation of the right to pool these leases. Pooling, also known as unitization, involves combining multiple leases or drilling units to optimize production efficiency and increase overall profitability. By reserving the right to pool these non-producing leases, the assignee can potentially pool them with other leases or units in the future if deemed beneficial. Keywords: Tarrant Texas, Assignment, Overriding Royalty Interest, Multiple Leases, Non-Producing, Reservation, Right to Pool, Tarrant County, Texas, Oil, Gas, Minerals, Transfer, Revenue, Production, Extraction, Pooling, Unitization. Different types of Tarrant Texas Assignment of Overriding Royalty Interest with Multiple Leases that are Non-Producing with Reservation of the Right to Pool may include variations based on specific lease provisions, parties involved, or distinct legal requirements. However, the core concept of transferring the overriding royalty interest and reserving the right to pool remains consistent throughout these agreements.