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 Arizona Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form is a legal document that allows an assignor to transfer their overriding royalty interest to another party while retaining the right to pool the assigned interest. This document is commonly used in the oil and gas industry, where pooling is a common practice for efficient resource extraction. In the Arizona Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form, there may be different variations or types depending on specific circumstances or additional provisions that may be included. Some potential types may include: 1. Arizona Assignment of Overriding Royalty Interest with Pooling Rights: This type of assignment allows the assignor to transfer their overriding royalty interest to another party while explicitly granting them the right to pool the assigned interest with other mineral interests. 2. Arizona Assignment of Overriding Royalty Interest with Limited Pooling Rights: This variation may restrict the assignor's ability to pool the assigned interest only under certain conditions or within specific geographical areas. It provides more flexibility to the assignor while protecting their overriding royalty interest. 3. Arizona Assignment of Overriding Royalty Interest with Reserved Pooling Rights: This type ensures that the assignor reserves the right to pool their assigned interest in specific circumstances, such as when a certain volume of production is reached or if operators fail to meet certain obligations. 4. Arizona Assignment of Overriding Royalty Interest with Subject to Pooling Agreement: This type acknowledges that the assignor's overriding royalty interest is subject to an existing pooling agreement, and the assignee agrees to honor the terms of this agreement while acquiring the assigned interest. When drafting the Arizona Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form, it is crucial to include relevant keywords to ensure its accuracy and searchability. Some relevant keywords might include: Arizona, assignment, overriding royalty interest, assignor, right to pool, assigned interest, short form, pooling rights, limited pooling rights, reserved pooling rights, subject to pooling agreement.
