Rhode Island Wellbore Assignment, Conveyance, Bill of Sale, and Release

State:
Multi-State
Control #:
US-OG-262
Format:
Word; 
Rich Text
Instant download

Description

This form is used when the Assignor owns and desires to assign to Assignee, all of its interests in and to the well and wellbore described within, together with the rights associated with the wellbore as specifically described within.
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FAQ

Net Revenue Interest is the portion of an oil and gas leaseholder's interest in production that they are entitled to receive as part of their lease. The amount is calculated after deducting all royalty payments, production costs, and other fees.

The definition of assignment in real estate is the sale, transfer, or conveyance of a whole property ownership/rights or part of it to another party. The term in the oil and gas industry is used for sale, transfer, or conveyance of working interest, lease, royalty, overriding royalty interest, or net profit interest.

Oil and gas interests are interests in real property and thereby have the same attributes as other real property such as a home or a ranch. Although the ownership of oil and gas interests can take many forms, courts commonly analogize the ownership of oil and gas interests to a bundle of sticks.

Wellbore. An assignment can be limited to the wellbore of a well. A wellbore limitation means that the assignor is assigning only those rights to production from the wellbore of a certain well, arguably at the total depth it existed at the time of the assignment.

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 percentage of ownership in an oil and gas lease granting its owner the right to explore, drill and produce oil and gas from a tract of property. Working interest owners are obligated to pay a corresponding percentage of the cost of leasing, drilling, producing and operating a well or unit.

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This form is used when the Assignor owns and desires to assign to Assignee, all of its interests in and to the well and wellbore described within, ... BASIC OIL AND GAS FORMS PROGRAM · Assignment (Undivided Interest in Producing Lease) · Assignment and Bill of Sale (To Life Tenant and Remainderman) · Assignment ...The easiest way to edit Wellbore Assignment, Conveyance, Bill of Sale, and Release in PDF format online · Log in to your account. · Import a form. · Edit Wellbore ... This template for an oil and gas assignment, bill of sale, and conveyance agreement is the most commonly used instrument in the oil and gas industry for ... Sep 12, 2017 — THIS ASSIGNMENT, CONVEYANCE AND BILL OF SALE (this "Assignment"), dated effective as of August 1,2017 at 12:01 a.m. Central Daylight Time ... CONVEYANCE: The assignment or transfer of mineral rights to another person. COST CEILING: The limit placed on the "carrying value" of mineral assets in the cost. All leases or wellbores or contract rights INSOFAR AND ONLY. INSOFAR AS set out in Exhibit A being attached to this Assignment and Bill of Sale and made a part ... This collection of forms can be an essential tool for all landmen, landowners, mineral rights owners and attorneys. The forms in this collection are ... Assignment and Bill of Sale. (Undivided Interest in Multiple Producing Leases. Short Form). Page 7. Wellbore Assignment, Conveyance, Bill of Sale, and Release. Attached is a certified copy of a recorded Assignment and Bill of Sale and Conveyance with the Jefferson County Clerk's office. Also attached is a check ...

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Rhode Island Wellbore Assignment, Conveyance, Bill of Sale, and Release