This form is used when the Assignor wishes to convey, assign and sell to the Assignee an undivided working interest in an oil and gas lease but reserves an overriding royalty interest payable on all oil, gas, and associated hydrocarbons produced, saved and sold from the Lands.
Nassau, New York is a county located on Long Island, just east of New York City. It encompasses a diverse range of landscapes including suburban areas, rural regions, and waterfront communities along the Atlantic coast. With a population of over 1.3 million residents, Nassau is a bustling and thriving county. In terms of the oil and gas industry, Nassau, New York has seen several partial assignments of oil and gas leases for specific parts of lands that are subject to nonproducing leases. These assignments represent transactions where a portion of the rights and obligations associated with the lease are transferred to another party. One type of Nassau, New York partial assignment of oil and gas lease for part of lands subject to nonproducing lease is the "Partial Assignment of Oil and Gas Lease for Exploration or Production Rights." This type of assignment involves transferring a portion of the lease rights to another entity, allowing them to explore or extract oil and gas on the designated lands. Another type is the "Partial Assignment of Oil and Gas Lease for Surface Rights." In this case, the assignment involves granting another party the right to use the surface of the lands covered by the nonproducing lease for oil and gas activities, such as drilling, construction of infrastructure, or transportation. Furthermore, there can also be specific agreements related to "Partial Assignment of Oil and Gas Lease for Leasehold Interests." This type of assignment allows the transferee to assume partial ownership or interests in the lease, including responsibilities and benefits related to the nonproducing lease. This kind of assignment is particularly useful when multiple parties are involved in the lease agreement. Overall, Nassau, New York experiences various types of partial assignments of oil and gas leases for parts of lands under nonproducing leases. These assignments enable the efficient utilization of resources while ensuring that the leaseholders and transferees can participate in and benefit from the oil and gas industry in the region.
