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.
New Mexico 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 an overriding royalty interest (ORRIS) in an oil and gas lease in the state of New Mexico. This particular assignment allows the assignor to retain the right to pool or combine the assigned interest with other leases. Keywords: New Mexico, Assignment of Overriding Royalty Interest, Assignor, Reserves, Right to Pool, Assigned Interest, Short Form, oil and gas lease. Types of New Mexico Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form: 1. New Mexico Assignment of Overriding Royalty Interest — Short Form with Right to Pool: This type of assignment document provides a short but comprehensive form to transfer the overriding royalty interest while explicitly reserving the right to combine or pool the assigned interest with other leases. 2. New Mexico Assignment of Overriding Royalty Interest — Short Form with Pooling Rights: This variation of the assignment form ensures that the assignor reserves the right to pool the overriding royalty interest with other leases, allowing for efficient extraction and maximizing production. 3. New Mexico Assignment of Overriding Royalty Interest — Short Form with Pooling Provisions: This type of assignment form includes specific provisions and clauses related to pooling activities, such as outlining the assignor's responsibilities, limitations, and any potential financial implications. It offers a comprehensive solution for transferring an overriding royalty interest while addressing pooling concerns. 4. New Mexico Assignment of Overriding Royalty Interest — Short Form with Pooling Flexibility: This assignment form is designed to provide flexibility to the assignor regarding pooling arrangements. It allows for negotiation and modification of pooling terms, ensuring the assignor has the freedom to adjust the pooling provisions as needed. These variations of the New Mexico Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form give parties involved in oil and gas leases the ability to tailor the document to their specific needs and circumstances while ensuring compliance with New Mexico state laws.
