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This form is used by the Assignor to transfer, assign, and convey to Assignee interests in leases and all oil, gas and other minerals produced, saved and sold from the Lease and Land.
Once it's signed, it's usually set in stone, so make sure you're sure before putting pen to paper!
It's important to think about how this will impact your long-term goals, your share of profits, and the relationship with the assignee.
Yes, it's fairly common in the industry. Many folks like to ensure they still get a piece of the pie even after handing over some rights.
When you do a Partial Assignment, you still keep some rights, but your control over the lease may be shared with someone else.
People often go for a Partial Assignment to partner up on a venture or to finance their operations while still staying involved.
Reserving an Overriding Royalty Interest means keeping a chunk of the profits from oil, gas, or minerals after assigning part of the lease to someone else.
A Partial Assignment lets a leaseholder share their rights to oil, gas, or mineral resources with someone else while still keeping some control.