Kings New York Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool)

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• County: Kings
• 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. Kings New York Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal document that pertains to the transfer of a financial interest in oil and gas leases in the state of New York. This type of assignment specifically applies to non-producing leases and grants the assignee the right to receive a percentage of the revenues generated from the production and sale of oil and gas from the leased property. Keywords: Kings New York, Assignment of Overriding Royalty Interest, Non-Producing, Single Lease, Reserves Right to Pool, oil and gas leases, financial interest, revenues, production, sale, leased property. There are two distinct types of Kings New York Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool): 1. Non-Producing Assignment: This type of assignment is applicable to oil and gas leases that are not currently producing any resources. It allows the assignee to benefit from future production revenue once the leased property becomes operational. 2. Single Lease Assignment: This specific assignment covers a single lease agreement between the lessor (landowner) and the lessee (oil and gas company). It does not extend to multiple leases or properties. In addition to these variations, the Kings New York Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) also includes a clause that reserves the right to pool. This means that the assignee holds the option to combine their interest with other assignments or agreements in the future. Pooling is a common practice that allows multiple leaseholders to combine their resources and develop them jointly, creating operational efficiencies and maximizing production potential. Overall, the Kings New York Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal instrument that enables the transfer of a financial interest in non-producing oil and gas leases in New York, allowing the assignee to receive a share of future revenue from the sale of resources once production commences. The assignment is specific to a single lease agreement and reserves the right to participate in pooling activities for maximum operational efficiency.

Kings New York Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal document that pertains to the transfer of a financial interest in oil and gas leases in the state of New York. This type of assignment specifically applies to non-producing leases and grants the assignee the right to receive a percentage of the revenues generated from the production and sale of oil and gas from the leased property. Keywords: Kings New York, Assignment of Overriding Royalty Interest, Non-Producing, Single Lease, Reserves Right to Pool, oil and gas leases, financial interest, revenues, production, sale, leased property. There are two distinct types of Kings New York Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool): 1. Non-Producing Assignment: This type of assignment is applicable to oil and gas leases that are not currently producing any resources. It allows the assignee to benefit from future production revenue once the leased property becomes operational. 2. Single Lease Assignment: This specific assignment covers a single lease agreement between the lessor (landowner) and the lessee (oil and gas company). It does not extend to multiple leases or properties. In addition to these variations, the Kings New York Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) also includes a clause that reserves the right to pool. This means that the assignee holds the option to combine their interest with other assignments or agreements in the future. Pooling is a common practice that allows multiple leaseholders to combine their resources and develop them jointly, creating operational efficiencies and maximizing production potential. Overall, the Kings New York Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal instrument that enables the transfer of a financial interest in non-producing oil and gas leases in New York, allowing the assignee to receive a share of future revenue from the sale of resources once production commences. The assignment is specific to a single lease agreement and reserves the right to participate in pooling activities for maximum operational efficiency.