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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.
Plano Texas Assignment of Overriding Royalty Interest by Working Interest Owner, Single Lease, Stated Percentage Related Searches
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Interesting Questions
Generally, yes, but it's important to check any restrictions in your lease agreement before going ahead with the assignment.
Yes, as a working interest owner, you still bear the financial responsibilities for the lease, even if you assign part of your royalty interests.
When an overriding royalty interest is assigned, the new owner will receive their specified percentage of the royalties collected, potentially impacting your overall income from that lease.
The Stated Percentage is the specific portion of the overriding royalty interest that is being assigned from the working interest owner.
A Single Lease is a contract that gives rights to explore and extract oil or gas from a specific piece of land.
A Working Interest Owner is an individual or entity that has invested in a lease and is responsible for the costs of drilling and producing oil or gas.
It refers to the transfer of a portion of royalty payments from the oil or gas produced on a lease, which is above the working interest owner's share.