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An Assignment of an Oil, Gas and Mineral Lease is a document in which the original Lessee, and or their successors, assign either all or part of their working interest and/or net revenue interest that they own in that lease. This is leasehold interest. You can also assign or reserve interest in wellbores.
What is the assignment of oil and gas interest?
The lessee of an oil or gas lease can assign the entire lease or part of it. In other words, the lessee can sell or transfer part of the estate or the entire estate to which they have the working rights. The assignee is assigned the working interest and lease obligations, including override royalty.
What is the difference between record title and operating rights?
The record title interest includes the obligation to pay rent and the rights to assign and relinquish the lease. [1] The operating rights interest authorizes the holder to drill for and conduct operations and produce the leased substances.
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Blm form 3000 3 pdfblm form 3000-3aBlm form 3000 3 templateBlm form 3000 3 instructionsBLM formsAssignment of Oil and Gas lease formAssignment of overriding royalty interest formBLM SF-299 form
3216.14 What filing fees and forms does a transfer require?
Form required? Form No. Number of copies. (a) Record Title, Yes, 3000-3, 2 executed copies. (b) Operating Rights, Yes, 3000-3(a), 2 executed copies. (c) Estate
File three (3) completed copies of this form in the proper BLM office for each assignment of record title. For a transfer of overriding royalty interest,
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