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Assignment of Oil and Gas Lease

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This is an agreement that transfers the rights and responsibilities of a party under an oil and gas lease to a third party. This document transfers the rights to use oil and gas with regards to a specific leased property. The third party acquires the same rights and privileges as the transferring party and the transferring party will remain liable under the original lease unless they are released by the landlord. This document can be used by tenants of a current lease with rights to oil and gas on the property that are looking to sell their interest in the property.

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