Mecklenburg North Carolina Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool)

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• County: Mecklenburg
• 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. Mecklenburg County, located in the state of North Carolina, offers various types of Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) agreements. These agreements allow individuals or entities to acquire a non-producing overriding royalty interest, providing them with a right to a portion of the proceeds from oil and gas production on a specific lease. The Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) agreement in Mecklenburg County is designed for situations where the lease is currently not producing any oil or gas but reserves the right to pool the leased lands into a larger drilling unit in the future. Key Features of Mecklenburg North Carolina Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool): 1. Non-Producing: This type of assignment is applicable when the lease is not currently producing any oil or gas. 2. Single Lease: The agreement focuses on a specific lease within Mecklenburg County, ensuring that the overriding royalty interest applies to that particular lease only. 3. Reserves Right to Pool: The assignment holds the right to merge or pool the leased lands into a larger drilling unit, allowing for more efficient resource extraction in the future. This ensures that the overriding royalty interest holder continues to benefit even if the lease is combined with others. Types of Mecklenburg North Carolina Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool): 1. Conventional Assignment: This type of assignment applies to non-producing leases where traditional oil and gas drilling methods are used. 2. Unconventional Assignment: Geared towards non-producing leases that may require unconventional drilling techniques, such as hydraulic fracturing (fracking) or horizontal drilling. 3. Temporary Assignment: In some cases, an overriding royalty interest holder may opt to temporarily assign their interest to another party, either for a set period or until certain conditions are met before reclaiming full ownership. 4. Partial Assignment: This assignment involves transferring only a portion of the overriding royalty interest, allowing the assignor to retain a percentage while still benefiting from the lease's future production. By utilizing the Mecklenburg North Carolina Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool), individuals and entities can secure their share of future oil and gas production on non-producing leases while also retaining the flexibility to pool and merge lands for increased efficiency.

Mecklenburg County, located in the state of North Carolina, offers various types of Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) agreements. These agreements allow individuals or entities to acquire a non-producing overriding royalty interest, providing them with a right to a portion of the proceeds from oil and gas production on a specific lease. The Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) agreement in Mecklenburg County is designed for situations where the lease is currently not producing any oil or gas but reserves the right to pool the leased lands into a larger drilling unit in the future. Key Features of Mecklenburg North Carolina Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool): 1. Non-Producing: This type of assignment is applicable when the lease is not currently producing any oil or gas. 2. Single Lease: The agreement focuses on a specific lease within Mecklenburg County, ensuring that the overriding royalty interest applies to that particular lease only. 3. Reserves Right to Pool: The assignment holds the right to merge or pool the leased lands into a larger drilling unit, allowing for more efficient resource extraction in the future. This ensures that the overriding royalty interest holder continues to benefit even if the lease is combined with others. Types of Mecklenburg North Carolina Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool): 1. Conventional Assignment: This type of assignment applies to non-producing leases where traditional oil and gas drilling methods are used. 2. Unconventional Assignment: Geared towards non-producing leases that may require unconventional drilling techniques, such as hydraulic fracturing (fracking) or horizontal drilling. 3. Temporary Assignment: In some cases, an overriding royalty interest holder may opt to temporarily assign their interest to another party, either for a set period or until certain conditions are met before reclaiming full ownership. 4. Partial Assignment: This assignment involves transferring only a portion of the overriding royalty interest, allowing the assignor to retain a percentage while still benefiting from the lease's future production. By utilizing the Mecklenburg North Carolina Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool), individuals and entities can secure their share of future oil and gas production on non-producing leases while also retaining the flexibility to pool and merge lands for increased efficiency.