This form is used when an Assignor transfers, assigns and conveys to Assignee an overriding royalty interest in all of the oil, gas, and other minerals produced, saved, and marketed from all of the Lands and Leases equal to a determined amount (the Override ), reserving the right to pool the assigned interest.
The Arkansas Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form is a legal document that outlines the transfer of overriding royalty interest from the assignor to the assignee, while the assignor retains the right to pool the assigned interest. This type of agreement is commonly used in the oil and gas industry to facilitate the efficient development of mineral resources. Keywords: Arkansas, Assignment of Overriding Royalty Interest, Assignor, Reserves, Pool, Assigned Interest, Short Form, oil and gas industry, mineral resources. Different types of Arkansas Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form: 1. Arkansas Assignment of Overriding Royalty Interest — Short Form: This assignment agreement allows the assignor to transfer their overriding royalty interest to the assignee without reserving the right to pool the assigned interest. This type of agreement is used when the assignor does not want to retain any pooling rights. 2. Arkansas Assignment of Overriding Royalty Interest when Assignor Partially Reserves the Right to Pool the Assigned Interest — Short Form: In this variation of the assignment agreement, the assignor reserves the right to pool only a certain percentage or portion of the assigned interest. The remaining portion is transferred to the assignee without any pooling rights. 3. Arkansas Assignment of Overriding Royalty Interest when Assignor Fully Reserves the Right to Pool the Assigned Interest — Short Form: This type of assignment agreement allows the assignor to retain the complete right to pool the entire assigned interest. The assignee receives the overriding royalty interest but cannot independently participate in pooling decisions. 4. Arkansas Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest for a Specified Time Period — Short Form: This variation of the assignment agreement allows the assignor to reserve the pooling rights for a specific duration. Once the specified time period expires, the assignee gains full control over the assigned overriding royalty interest. 5. Arkansas Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest and Share Decision-Making — Short Form: In this type of assignment agreement, the assignor reserves the right to pool the assigned interest and shares the decision-making process with the assignee. Both parties collaborate in making pooling-related decisions, ensuring a joint venture approach. These different types of Arkansas Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form provide flexibility to the parties involved in the assignment, catering to their specific needs and preferences in terms of pooling rights and control over the assigned overriding royalty interest.
