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.
Kansas Assignment of Overriding Royalty Interest is a legal tool used in the oil and gas industry that involves the transfer of a portion of the royalty interest from the assignor to the assignee. This type of assignment is typically executed when the assignor wants to keep the right to pool the assigned interest, meaning they retain the ability to combine the assigned interest with other interests in drilling purposes. Here, we will delve into the details of this assignment and explore different variations if they exist. The Kansas Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form is a concise and straightforward document that outlines the terms and conditions of the transfer. This short form ensures clarity and efficiency while covering the essential elements of the assignment. It allows for a smooth transfer of the overriding royalty interest while safeguarding the assignor's right to pool the assigned interest. Keywords: Kansas, Assignment of Overriding Royalty Interest, Assignor, Reserves, Right to Pool, Assigned Interest, Short Form, Transfer, Royalty Interest, Oil and Gas, Drilling, Legal. Variations of the Kansas Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form may include: 1. Kansas Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Long Form: This variation provides a more detailed and comprehensive agreement that covers additional aspects of the assignment and pooling rights. It may include provisions for termination, dispute resolution, and specific clauses relating to pooling operations. 2. Kansas Assignment of Overriding Royalty Interest — No Right to Pool: In contrast to the main form, this variation involves the assignor relinquishing the right to pool the assigned interest. It may be utilized when the assignor prefers that the interest be treated as a standalone entity without being combined or integrated with other interests in drilling purposes. 3. Kansas Assignment of Overriding Royalty Interest with Pooling Agreement: In some cases, parties may choose to execute a separate pooling agreement alongside the assignment. This agreement would delve into the specifics of pooling, including terms, conditions, and operational requirements. It would work in conjunction with the assignment to ensure the assignor's right to pool and set clear guidelines for the assignee. Keywords: Kansas, Assignment of Overriding Royalty Interest, Assignor, Reserves, Right to Pool, Assigned Interest, Long Form, No Right to Pool, Pooling Agreement, Oil and Gas, Drilling, Legal.
