Wellbore Assignment With A Returned Value

State:
Multi-State
Control #:
US-OG-262
Format:
Word; 
Rich Text
Instant download

Description

The Wellbore Assignment with a Returned Value serves as a legal document through which the Assignor transfers their interests in a specified well and associated wellbore to the Assignee, including various rights and tangible assets. Key features of the form include comprehensive sections outlining the assets being transferred, the exclusions of certain liabilities known as the Excluded Assets, and various warranties regarding the title and condition of the well. The document also delineates the obligations of each party, particularly concerning environmental conditions, operational rights, and indemnification against potential claims. Filling and editing instructions emphasize the need to enter specific details such as the Effective Date and location of the well, ensuring all pertinent information is accurately represented. Attorneys, partners, and legal associates benefit from this form as it simplifies the transfer process of oil and gas interests, while paralegals and legal assistants are provided a clear framework for documentation and adherence to legal standards. The form highlights essential considerations such as the Assignee’s assumption of liabilities and the necessity for indemnification, aligning the expectations and responsibilities of both parties involved in the assignment.
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  • Preview Wellbore Assignment, Conveyance, Bill of Sale, and Release
  • Preview Wellbore Assignment, Conveyance, Bill of Sale, and Release
  • Preview Wellbore Assignment, Conveyance, Bill of Sale, and Release

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Wellbore Assignment With A Returned Value