San Jose California Assignment of Overriding Royalty Interest (No Proportionate Reduction)

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• City: San Jose
• Control #: US-OG-939
• Format: Word; Rich Text

Description

This form is an assignment of overriding royalty interest with no proportionate reduction. San Jose, California is a bustling city located in the heart of Silicon Valley. It is known for its high-tech industry and vibrant culture. Within San Jose, there are various types of assignments related to Overriding Royalty Interest (ORRIS), one of which is the Assignment of Overriding Royalty Interest (No Proportionate Reduction). In the oil and gas industry, an Overriding Royalty Interest (ORRIS) is a type of contractual arrangement where a party holds a non-operating interest in a lease or a well. The party with the ORRIS receives a royalty payment based on the revenue generated from the production of minerals, oil, or gas. The Assignment of Overriding Royalty Interest (No Proportionate Reduction) specifically pertains to an assignment agreement that transfers the ownership of an ORRIS without reducing or proportionally dividing the interest among the parties involved. This means that the assignee will acquire the full ORRIS percentage originally allocated to the assignor and will be entitled to receive the corresponding royalty payments. In San Jose, companies or individuals involved in the oil and gas industry might utilize this type of assignment to buy or sell Orris without reducing the assigned interest. This assignment allows for the full transfer of rights and obligations associated with the ORRIS, without any proportional reduction. It is worth noting that the Assignment of Overriding Royalty Interest (No Proportionate Reduction) is just one type of assignment related to Orris in San Jose, California. There may be other variations or specific terms used in different agreements, such as the Assignment of Overriding Royalty Interest (With Proportionate Reduction) or the Partial Assignment of Overriding Royalty Interest. Each type serves a specific purpose and involves different terms and conditions based on the needs and preferences of the parties involved. Overall, the Assignment of Overriding Royalty Interest (No Proportionate Reduction) is a contractual agreement commonly used in San Jose, California's oil and gas industry. It allows for the full transfer of an ORRIS without proportionally dividing the interest among the parties involved, ensuring that the assignee receives the assigned ORRIS percentage in its entirety.

San Jose, California is a bustling city located in the heart of Silicon Valley. It is known for its high-tech industry and vibrant culture. Within San Jose, there are various types of assignments related to Overriding Royalty Interest (ORRIS), one of which is the Assignment of Overriding Royalty Interest (No Proportionate Reduction). In the oil and gas industry, an Overriding Royalty Interest (ORRIS) is a type of contractual arrangement where a party holds a non-operating interest in a lease or a well. The party with the ORRIS receives a royalty payment based on the revenue generated from the production of minerals, oil, or gas. The Assignment of Overriding Royalty Interest (No Proportionate Reduction) specifically pertains to an assignment agreement that transfers the ownership of an ORRIS without reducing or proportionally dividing the interest among the parties involved. This means that the assignee will acquire the full ORRIS percentage originally allocated to the assignor and will be entitled to receive the corresponding royalty payments. In San Jose, companies or individuals involved in the oil and gas industry might utilize this type of assignment to buy or sell Orris without reducing the assigned interest. This assignment allows for the full transfer of rights and obligations associated with the ORRIS, without any proportional reduction. It is worth noting that the Assignment of Overriding Royalty Interest (No Proportionate Reduction) is just one type of assignment related to Orris in San Jose, California. There may be other variations or specific terms used in different agreements, such as the Assignment of Overriding Royalty Interest (With Proportionate Reduction) or the Partial Assignment of Overriding Royalty Interest. Each type serves a specific purpose and involves different terms and conditions based on the needs and preferences of the parties involved. Overall, the Assignment of Overriding Royalty Interest (No Proportionate Reduction) is a contractual agreement commonly used in San Jose, California's oil and gas industry. It allows for the full transfer of an ORRIS without proportionally dividing the interest among the parties involved, ensuring that the assignee receives the assigned ORRIS percentage in its entirety.