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 Pennsylvania Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form is a legal document that allows for the transfer of an overriding royalty interest in an oil and gas lease in Pennsylvania. This document is used when the assignor wishes to retain the right to pool or combine the assigned interest with other working interests. Here are some relevant keywords for this topic: — Pennsylvania: This indicates that the document is specific to the state of Pennsylvania and conforms to its laws and regulations. — Assignment: This refers to the transfer of the overriding royalty interest from the assignor to the assignee. — Overriding Royalty Interest: This is a fractional interest in the production of oil and gas that is separate from the operating rights of the lease. — Assignor: The original owner of the overriding royalty interest who wishes to transfer it to another party. — Reserves: This keyword signifies that the assignor retains certain rights or privileges related to the assigned interest. — Pooling: The right to pool allows the assignor to combine the assigned interest with other working interests to increase production efficiency. — Short Form: This indicates that the document is a concise version of the Assignment of Overriding Royalty Interest and may have different requirements or provisions compared to a long-form agreement. Different types of Pennsylvania Assignment of Overriding Royalty Interest when Assignor Reserves the Right to Pool the Assigned Interest — Short Form may include variations in the terminology used, specific requirements based on the oil and gas lease involved, or modifications to suit the preferences of the assignor and assignee. It is essential to consult with a legal professional familiar with Pennsylvania oil and gas laws to draft or review the specific details of this document, ensuring compliance and accuracy.
