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

• Category: Oil Gas and Minerals - Assignments
• State: Multi-State
• County: Santa Clara
• 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. Santa Clara, California Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal contract that assigns a portion of the royalty interest in an oil or gas lease to a third party. This type of agreement typically applies to non-producing leases in Santa Clara, California, where the lessee has acquired the right to develop and extract natural resources within a specific area. In this particular assignment, the overriding royalty interest refers to a percentage of the revenue generated from the production and sale of oil or gas from the specified lease. It is an interest that "overrides" the standard royalty interest paid to the mineral rights' owner. The assignment of the overriding royalty interest is granted to a party other than the original lessee, providing an opportunity for investment or speculation in potentially lucrative oil and gas reserves. The Santa Clara, California Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) also reserves the right to pool the leased area with adjacent properties. Pooling allows multiple leases to be combined into one production unit, maximizing efficiency in extraction and minimizing costs. By reserving the right to pool, the original lessee retains the flexibility to consolidate operations and streamline the development process, which can lead to increased overall profitability. Keywords: Santa Clara, California, assignment, overriding royalty interest, non-producing lease, single lease, reserves right to pool, oil, gas, natural resources, legal contract, revenue, mineral rights, production, investment, speculation, pooling, adjacent properties, production unit, efficiency, extraction, profitability.

Santa Clara, California Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) is a legal contract that assigns a portion of the royalty interest in an oil or gas lease to a third party. This type of agreement typically applies to non-producing leases in Santa Clara, California, where the lessee has acquired the right to develop and extract natural resources within a specific area. In this particular assignment, the overriding royalty interest refers to a percentage of the revenue generated from the production and sale of oil or gas from the specified lease. It is an interest that "overrides" the standard royalty interest paid to the mineral rights' owner. The assignment of the overriding royalty interest is granted to a party other than the original lessee, providing an opportunity for investment or speculation in potentially lucrative oil and gas reserves. The Santa Clara, California Assignment of Overriding Royalty Interest (Non-Producing, Single Lease, Reserves Right to Pool) also reserves the right to pool the leased area with adjacent properties. Pooling allows multiple leases to be combined into one production unit, maximizing efficiency in extraction and minimizing costs. By reserving the right to pool, the original lessee retains the flexibility to consolidate operations and streamline the development process, which can lead to increased overall profitability. Keywords: Santa Clara, California, assignment, overriding royalty interest, non-producing lease, single lease, reserves right to pool, oil, gas, natural resources, legal contract, revenue, mineral rights, production, investment, speculation, pooling, adjacent properties, production unit, efficiency, extraction, profitability.