Queens 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: Queens
• 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. A Queens, New York Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal document that transfers the ownership of a non-producing overriding royalty interest from one party to another in relation to a specific oil or gas lease in Queens, New York. This type of assignment involves the reservation of the right to pool, which allows the assignee to combine the interest with other lease interests in greater efficiency in drilling and production operations. The Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is typically utilized in the oil and gas industry to facilitate transactions and the transfer of ownership rights. It provides a mechanism for investors and companies to acquire or divest royalty interests that are not yet producing, but still hold potential value when future production occurs. In Queens, New York, there may be various types of Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) documents, depending on specific terms, conditions, and intentions of the parties involved. Some possible variations could include: 1. Partial Assignment: This type of assignment involves the transfer of only a portion of the non-producing overriding royalty interest. 2. Temporary Assignment: Here, the ownership transfer is of a temporary nature, usually for a specific time period or until certain conditions are met. 3. Assignment with Right of First Refusal: In this scenario, the assignee has the right to match any future offers or proposals from third parties if the assignor decides to sell or transfer the overriding royalty interest. 4. Assignment with Carried Interest: This type of assignment involves the assignor retaining a carried interest, meaning they receive a percentage of any future profits from the production of oil or gas. It is important to consult with legal professionals or industry experts when dealing with the Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) in Queens, New York, as specific laws, regulations, and terms may vary.

A Queens, New York Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal document that transfers the ownership of a non-producing overriding royalty interest from one party to another in relation to a specific oil or gas lease in Queens, New York. This type of assignment involves the reservation of the right to pool, which allows the assignee to combine the interest with other lease interests in greater efficiency in drilling and production operations. The Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is typically utilized in the oil and gas industry to facilitate transactions and the transfer of ownership rights. It provides a mechanism for investors and companies to acquire or divest royalty interests that are not yet producing, but still hold potential value when future production occurs. In Queens, New York, there may be various types of Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) documents, depending on specific terms, conditions, and intentions of the parties involved. Some possible variations could include: 1. Partial Assignment: This type of assignment involves the transfer of only a portion of the non-producing overriding royalty interest. 2. Temporary Assignment: Here, the ownership transfer is of a temporary nature, usually for a specific time period or until certain conditions are met. 3. Assignment with Right of First Refusal: In this scenario, the assignee has the right to match any future offers or proposals from third parties if the assignor decides to sell or transfer the overriding royalty interest. 4. Assignment with Carried Interest: This type of assignment involves the assignor retaining a carried interest, meaning they receive a percentage of any future profits from the production of oil or gas. It is important to consult with legal professionals or industry experts when dealing with the Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) in Queens, New York, as specific laws, regulations, and terms may vary.