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

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• County: Orange
• 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. Orange, California is a vibrant city located in Orange County, southern California. Known for its historical charm, diverse community, and proximity to popular attractions, Orange offers a great quality of life for residents and visitors alike. Now, let's delve into the specific topic of the "Orange California Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool)" and explore the different types associated with it. In the realm of mineral rights and oil and gas leases, an assignment of overriding royalty interest refers to the transfer of a percentage of the total royalty received from the production of oil or gas from the working interest owner to another party, known as the assignee. The non-producing assignment of overriding royalty interest in Orange, California signifies that the assigned interest does not currently produce any oil or gas. However, it holds the potential for future production, thus still maintaining its value. The "single lease" component of this assignment refers to the fact that the royalty interest is derived from a specific lease rather than multiple leases. This means that the interest pertains to a particular tract of land or property, limiting its scope but providing clarity on the exact rights and interests involved. Lastly, the "reserves right to pool" aspect of this assignment states that the assignee holds the right to combine or pool their royalty interest with other interests, potentially increasing the overall production and profitability from the lease. Pooling allows for the efficient extraction of oil or gas resources from multiple properties, enhancing the overall value and productivity of the mineral rights. In summary, an Orange California Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a transfer of a non-producing royalty interest derived from a single lease in Orange, California. The assignee retains the right to merge or pool their interest with other rights to maximize production and profitability.

Orange, California is a vibrant city located in Orange County, southern California. Known for its historical charm, diverse community, and proximity to popular attractions, Orange offers a great quality of life for residents and visitors alike. Now, let's delve into the specific topic of the "Orange California Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool)" and explore the different types associated with it. In the realm of mineral rights and oil and gas leases, an assignment of overriding royalty interest refers to the transfer of a percentage of the total royalty received from the production of oil or gas from the working interest owner to another party, known as the assignee. The non-producing assignment of overriding royalty interest in Orange, California signifies that the assigned interest does not currently produce any oil or gas. However, it holds the potential for future production, thus still maintaining its value. The "single lease" component of this assignment refers to the fact that the royalty interest is derived from a specific lease rather than multiple leases. This means that the interest pertains to a particular tract of land or property, limiting its scope but providing clarity on the exact rights and interests involved. Lastly, the "reserves right to pool" aspect of this assignment states that the assignee holds the right to combine or pool their royalty interest with other interests, potentially increasing the overall production and profitability from the lease. Pooling allows for the efficient extraction of oil or gas resources from multiple properties, enhancing the overall value and productivity of the mineral rights. In summary, an Orange California Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a transfer of a non-producing royalty interest derived from a single lease in Orange, California. The assignee retains the right to merge or pool their interest with other rights to maximize production and profitability.