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

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• County: Maricopa
• 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. Maricopa, Arizona is a prominent location for the assignment of overriding royalty interests (Orris) within the oil and gas industry. This article aims to provide a detailed description of the Maricopa Arizona Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool), along with related keywords and different types of assignments. In Maricopa, Arizona, an assignment of overriding royalty interest refers to a legal document that grants a party the right to a percentage of the revenues generated from the production of oil and gas on a specific lease. The ORRIS holder does not bear any liability for the costs associated with exploration, drilling, or production activities, making it an attractive investment opportunity. The term "non-producing" indicates that the lease is currently not yielding any oil or gas production. It means that although the lease exists, no extraction operations are active at the time of the assignment. However, this does not diminish the potential value of the assigned overriding royalty interest if production were to commence in the future. In the context of the Maricopa Arizona Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool), the term "single lease" implies that the ORRIS applies to a specific lease within the region. This lease could encompass a particular section or block of land where oil or gas exploration and production activities are conducted or planned. This assignment type also reserves the right to pool, which means that the operator has the option to combine adjacent leases or sections into a single drilling unit. Pooling consolidates several smaller interests from various parties, allowing for more efficient development of the resources and potentially increasing overall profitability. The reserved right to pool gives the operator the flexibility to utilize this strategy if it is deemed beneficial in maximizing oil and gas recovery efficiency. Some additional types of Maricopa Arizona Assignment of Overriding Royalty Interest may include "Producing" Orris, which indicate that the lease in question is currently yielding oil or gas production. This signifies a more lucrative investment opportunity, as the assigned party would start receiving regular payments based on their ORRIS percentage. Additionally, there could be assignments without the "Reserves Right to Pool" clause, limiting the operator's ability to combine adjacent leases for enhanced resource extraction. In summary, Maricopa Arizona Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) represents a legal instrument granting a party a percentage of future revenue from oil and gas production on a specific lease within the Maricopa, Arizona area. The non-producing aspect indicates the absence of active extraction activities at the time of assignment, while the single lease designation refers to a specific area of land. Reserving the right to pool grants the operator flexibility in combining adjacent leases to optimize resource recovery.

Maricopa, Arizona is a prominent location for the assignment of overriding royalty interests (Orris) within the oil and gas industry. This article aims to provide a detailed description of the Maricopa Arizona Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool), along with related keywords and different types of assignments. In Maricopa, Arizona, an assignment of overriding royalty interest refers to a legal document that grants a party the right to a percentage of the revenues generated from the production of oil and gas on a specific lease. The ORRIS holder does not bear any liability for the costs associated with exploration, drilling, or production activities, making it an attractive investment opportunity. The term "non-producing" indicates that the lease is currently not yielding any oil or gas production. It means that although the lease exists, no extraction operations are active at the time of the assignment. However, this does not diminish the potential value of the assigned overriding royalty interest if production were to commence in the future. In the context of the Maricopa Arizona Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool), the term "single lease" implies that the ORRIS applies to a specific lease within the region. This lease could encompass a particular section or block of land where oil or gas exploration and production activities are conducted or planned. This assignment type also reserves the right to pool, which means that the operator has the option to combine adjacent leases or sections into a single drilling unit. Pooling consolidates several smaller interests from various parties, allowing for more efficient development of the resources and potentially increasing overall profitability. The reserved right to pool gives the operator the flexibility to utilize this strategy if it is deemed beneficial in maximizing oil and gas recovery efficiency. Some additional types of Maricopa Arizona Assignment of Overriding Royalty Interest may include "Producing" Orris, which indicate that the lease in question is currently yielding oil or gas production. This signifies a more lucrative investment opportunity, as the assigned party would start receiving regular payments based on their ORRIS percentage. Additionally, there could be assignments without the "Reserves Right to Pool" clause, limiting the operator's ability to combine adjacent leases for enhanced resource extraction. In summary, Maricopa Arizona Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) represents a legal instrument granting a party a percentage of future revenue from oil and gas production on a specific lease within the Maricopa, Arizona area. The non-producing aspect indicates the absence of active extraction activities at the time of assignment, while the single lease designation refers to a specific area of land. Reserving the right to pool grants the operator flexibility in combining adjacent leases to optimize resource recovery.