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This form is used by the Assignor to transfer, assign, and convey to Assignee an overriding royalty interest in a Lease and all oil, gas and other minerals produced, saved and sold from the Lease and Land.
Yes, sometimes the lease agreement might have specific clauses that place limits on assignments, so it’s essential to review those documents carefully.
Absolutely! A working interest owner can assign a portion of their overriding royalty interest to others, allowing for more flexibility in managing their income.
The stated percentage is the exact share of the revenue that the overriding royalty interest holder will receive from the production of oil or gas from the lease.
A single lease refers to a specific oil or gas lease under which the overriding royalty interest is assigned, covering a defined area of land.
A working interest owner has the responsibility and rights to operate the lease, while the overriding royalty interest holder simply receives a share of the revenue without the burden of operating costs.
It's a legal way for a working interest owner to transfer a portion of their royalty income to someone else, usually for a specific lease or agreement.
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Mesa Arizona Assignment of Overriding Royalty Interest by Working Interest Owner, Single Lease, Stated Percentage