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

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• County: Sacramento
• 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 Sacramento California Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) refers to a legal document that grants the rights to a portion of the royalties derived from oil, gas, or mineral extraction from a specific lease in Sacramento, California. This assignment is designated for a non-producing lease, meaning that it applies to a leasehold interest that is not currently yielding any production. The overriding royalty interest assigned under this document is a contractual arrangement separate from the ownership of the underlying lease. It entitles the assignee to a percentage share of the production proceeds generated from the lease, instead of actual ownership rights. This arrangement offers financial benefits without the burden of operational responsibilities or costs. The "Single Lease" specification in this assignment ensures that the overriding royalty interest applies solely to a specific lease agreement, limiting its scope to the designated lease and its associated production activities. This specification prevents any confusion or interference with royalties from other leases in the Sacramento area. Furthermore, the assignment reserves the right to pool the lease, which means that the assignor retains the authority to combine the assigned leasehold interest with other contiguous or related leases. Pooling allows for the consolidation of acreage to maximize production efficiency and economic viability. It often enables the operator to initiate unitization efforts or coordinate drilling activities in a manner that optimizes resource recovery. Different types of Sacramento California Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) may include variations that allocate different percentages of the overriding royalty interest, depending on the negotiation or agreement between the parties involved. Some assignments may also specify additional conditions or obligations, such as royalty payment structures, termination clauses, and confidentiality requirements. Overall, through a Sacramento California Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool), assignees can benefit financially from potential future production of oil, gas, or minerals on the specified non-producing lease. This legally binding arrangement ensures a share of the proceeds without the burdens associated with leasing or operational responsibilities.

A Sacramento California Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) refers to a legal document that grants the rights to a portion of the royalties derived from oil, gas, or mineral extraction from a specific lease in Sacramento, California. This assignment is designated for a non-producing lease, meaning that it applies to a leasehold interest that is not currently yielding any production. The overriding royalty interest assigned under this document is a contractual arrangement separate from the ownership of the underlying lease. It entitles the assignee to a percentage share of the production proceeds generated from the lease, instead of actual ownership rights. This arrangement offers financial benefits without the burden of operational responsibilities or costs. The "Single Lease" specification in this assignment ensures that the overriding royalty interest applies solely to a specific lease agreement, limiting its scope to the designated lease and its associated production activities. This specification prevents any confusion or interference with royalties from other leases in the Sacramento area. Furthermore, the assignment reserves the right to pool the lease, which means that the assignor retains the authority to combine the assigned leasehold interest with other contiguous or related leases. Pooling allows for the consolidation of acreage to maximize production efficiency and economic viability. It often enables the operator to initiate unitization efforts or coordinate drilling activities in a manner that optimizes resource recovery. Different types of Sacramento California Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) may include variations that allocate different percentages of the overriding royalty interest, depending on the negotiation or agreement between the parties involved. Some assignments may also specify additional conditions or obligations, such as royalty payment structures, termination clauses, and confidentiality requirements. Overall, through a Sacramento California Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool), assignees can benefit financially from potential future production of oil, gas, or minerals on the specified non-producing lease. This legally binding arrangement ensures a share of the proceeds without the burdens associated with leasing or operational responsibilities.