Phoenix, Arizona Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal document that grants the rights to an individual or entity to receive a portion of the revenue generated from oil, gas, or mineral production on a specific lease in the Phoenix, Arizona area. This type of assignment can vary in its conditions and terms. There are several types or variations of the Phoenix, Arizona Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool): 1. Non-Producing: This type of assignment pertains to a lease that is not currently producing any oil, gas, or minerals. It allows the assignee to receive a percentage of future production revenue once the lease becomes active and production commences. 2. Single Lease: This variant of the assignment focuses on a specific lease in Phoenix, Arizona. It ensures that the assignee's interest is limited to revenue generated from activities within that particular lease area. 3. Reserves Right to Pool: This specific clause in the assignment allows the assignor or assignee to combine their royalty interest with other leases in the same area, known as pooling. Pooling enables the efficient extraction of oil, gas, or minerals by consolidating resources and operations. The Phoenix, Arizona Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a crucial instrument for investors and individuals looking to benefit from potential production revenue without directly being involved in extraction operations. This assignment offers a means of securing a passive income stream from mineral resources in the Phoenix, Arizona area. It is important to consult legal experts familiar with Phoenix, Arizona's jurisdiction and regulations to ensure the assignment accurately reflects the desired terms and protects the assignee's interests in this unique region with rich mineral resources.
Phoenix Arizona Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool)
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