Bexar Texas Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool)

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• County: Bexar
• Control #: US-OG-940
• Format: Word; Rich Text

Description

This form is an assignment of overriding royalty interest for a non-producing, single lease with reserves the right to pool. Bexar Texas Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal agreement that involves the transfer of the overriding royalty interest from one party to another in the Bexar County region of Texas. The overriding royalty interest refers to a royalty interest in an oil or gas property that is carved out of the lessee's working interest. In this specific type of assignment, the overriding royalty interest is non-producing, meaning that it does not currently generate any income. The assignment is limited to a single lease, which implies that the overriding royalty interest applies only to a specific lease agreement within the Bexar County area. This avoids any confusion or ambiguity regarding the scope of the assignment. Additionally, this assignment reserves the right to pool. Pooling refers to the combining of multiple leased tracts of land to create a larger drilling unit or pool, which allows for more efficient extraction of oil or gas reserves. By reserving the right to pool, the assignor ensures that the overriding royalty interest remains intact even if pooling occurs. Different types or variations of Bexar Texas Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) may exist, depending on the specific terms and conditions agreed upon by the parties involved. These variations could include different percentages of overriding royalty interest being assigned, specific limitations or restrictions on the assignment, or additional provisions related to the pooling rights. Overall, Bexar Texas Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal document that facilitates the transfer of an overriding royalty interest tied to a single lease in Bexar County, Texas, while also preserving the assignor's rights in case of future pooling activities.

Bexar Texas Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal agreement that involves the transfer of the overriding royalty interest from one party to another in the Bexar County region of Texas. The overriding royalty interest refers to a royalty interest in an oil or gas property that is carved out of the lessee's working interest. In this specific type of assignment, the overriding royalty interest is non-producing, meaning that it does not currently generate any income. The assignment is limited to a single lease, which implies that the overriding royalty interest applies only to a specific lease agreement within the Bexar County area. This avoids any confusion or ambiguity regarding the scope of the assignment. Additionally, this assignment reserves the right to pool. Pooling refers to the combining of multiple leased tracts of land to create a larger drilling unit or pool, which allows for more efficient extraction of oil or gas reserves. By reserving the right to pool, the assignor ensures that the overriding royalty interest remains intact even if pooling occurs. Different types or variations of Bexar Texas Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) may exist, depending on the specific terms and conditions agreed upon by the parties involved. These variations could include different percentages of overriding royalty interest being assigned, specific limitations or restrictions on the assignment, or additional provisions related to the pooling rights. Overall, Bexar Texas Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal document that facilitates the transfer of an overriding royalty interest tied to a single lease in Bexar County, Texas, while also preserving the assignor's rights in case of future pooling activities.