This form is used when the Assignor transfers, assigns, and conveys to Assignee, as a production payment, a percentage of 8/8 of all oil, gas, and other minerals produced and saved from the Lands under the terms of the Lease and any renewals or extensions of the Lease which are obtained by Assignor or Assignor's successors and/or assigns.
District of Columbia Assignment of Production Payment by Lessee to Third Party
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US-OG-292
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FAQ
What Is Volumetric Production Payment? A Volumetric Production Payment (VPP) is a type of structured investment that involves the owner of an oil or gas interest selling or borrowing money against a specific volume of production associated with that field or property.
A quick definition of production payment: A production payment is a type of agreement in the oil and gas industry where a person or company receives a share of the oil and gas produced from a property. This share is given without having to pay for the costs of production.
An assignment of oil and gas lease is a contractual agreement between a landowner and an oil or gas company in which the company gains the right to explore for, develop, and produce oil and gas from the property.
A volumetric production payment (VPP) is a means of financing used predominantly in the oil and gas industry wherein the owner of an oil or gas property sells a percentage of the total production for an upfront cash payment. It allows the issuer to monetize his/her assets without diluting his control on them.
After making the full payment of the goods by the customers, merchandise are delivered to the customers through post as VPP in mail order retail business. VPP stands for Value Payable Post.
(1) The term production payment means, in general, a right to a specified share of the production from mineral in place (if, as, and when produced), or the proceeds from such production. Such right must be an economic interest in such mineral in place.