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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.
Absolutely! Assignments happen quite frequently in the oil and gas business, just like changes in leadership at a sports team.
A stated percentage is the specific portion of the total revenue that the overriding royalty interest owner will receive, like having your fair share of cake defined before the feast.
A single lease refers to the specific agreement that grants rights to extract resources from a particular piece of land; think of it as a one-stop-shop for resource extraction.
Typically, the working interest owners, who actively manage and operate the lease, can assign their overriding royalty interest to others.
An overriding royalty interest is a slice of the pie that a property owner gets from the revenue generated by oil or gas production, without having to bear any costs.
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Stockton California Assignment of Overriding Royalty Interest by Working Interest Owner, Single Lease, Stated Percentage