This form is used when the Assignor wishes to convey, assign and sell to the Assignee an undivided working interest in an oil and gas lease but reserves an overriding royalty interest payable on all oil, gas, and associated hydrocarbons produced, saved and sold from the Lands.
North Dakota Partial Assignment of Oil and Gas Lease for Part of Lands Subject to Nonproducing Lease is a legal document that allows a lessee to assign a portion of their rights and interests in an oil and gas lease to another party. This partial assignment is particularly applicable when a portion of the leased lands are nonproducing, meaning they are not currently generating oil and gas production. In North Dakota, there are different types of partial assignments of oil and gas leases for lands subject to nonproducing leases. These include: 1. Surface Rights Assignment: This type of assignment involves the transfer of surface rights associated with the nonproducing portion of the leased lands. It grants the assignee the rights to access and use the surface for oil and gas operations, such as drilling and construction activities. 2. Subsurface Rights Assignment: This type of assignment pertains to the transfer of subsurface rights, allowing the assignee to access and exploit the oil and gas resources beneath the nonproducing portion of the leased lands. It typically involves the rights to drill, extract, and produce oil and gas from the assigned subsurface area. 3. Royalty Interest Assignment: This assignment type involves the transfer of the assignor's royalty interests in the nonproducing portion of the leased lands. The assignee receives a share of the oil and gas production revenues generated from the assigned area. The North Dakota Partial Assignment of Oil and Gas Lease for Part of Lands Subject to Nonproducing Lease document outlines the specifics of the partial assignment, including the parties involved, the assigned area, and the terms and conditions of the assignment. It must adhere to the state's oil and gas leasing regulations and be properly recorded with the relevant authorities to ensure its legal validity. Keywords: North Dakota, Partial Assignment, Oil and Gas Lease, Lands, Subject, Nonproducing Lease, Surface Rights, Subsurface Rights, Royalty Interest.
