San Antonio Texas Division Order

• Category: Oil Gas and Minerals - Division and Transfer Orders
• State: Multi-State
• City: San Antonio
• Control #: US-OG-068
• Format: Word; Rich Text

Description

This is the model form which many companies now use. San Antonio Texas Division Order is a legal document that specifies the ownership of oil and gas royalties and outlines the distribution of proceeds from the sale of these resources in the San Antonio, Texas area. It plays a crucial role in ensuring that each party entitled to a share of the revenue receives their rightful portion. The San Antonio Texas Division Order contains essential information such as the names and addresses of all parties involved, including the oil and gas company, landowners, and royalty interest owners. It also lists the legal description of the property where the production is occurring, and the exact size or interest percentage that each party holds. In addition, this document provides details about the specific well or field being developed and the lease agreement under which extraction is permitted. It includes the identification of the oil and gas wells, the date of first production, estimated reserves, and the amount of royalties to be paid out. There are different types of San Antonio Texas Division Orders based on the nature of the ownership interests in the oil and gas well. Some common types include: 1. Working Interest Division Order: This type of division order is issued to parties who have leased out their land to an operator and hold a percentage interest in both the operation costs and the production revenues. 2. Royalty Interest Division Order: This division order is issued to individuals or entities who own a percentage interest in the revenues generated from the sale of production but do not bear any financial liability for operational costs. 3. Overriding Royalty Interest Division Order: This division order is issued to individuals or entities who hold a percentage interest in revenue from an oil and gas lease but have no ownership interest in the lease itself. It is typically granted to investors or third parties who retain overriding royalty interests. The San Antonio Texas Division Order is a critical document that ensures transparency and fairness in the distribution of oil and gas proceeds. It serves as a legally binding agreement between the parties involved, safeguarding their rights and streamlining the payment process.

San Antonio Texas Division Order is a legal document that specifies the ownership of oil and gas royalties and outlines the distribution of proceeds from the sale of these resources in the San Antonio, Texas area. It plays a crucial role in ensuring that each party entitled to a share of the revenue receives their rightful portion. The San Antonio Texas Division Order contains essential information such as the names and addresses of all parties involved, including the oil and gas company, landowners, and royalty interest owners. It also lists the legal description of the property where the production is occurring, and the exact size or interest percentage that each party holds. In addition, this document provides details about the specific well or field being developed and the lease agreement under which extraction is permitted. It includes the identification of the oil and gas wells, the date of first production, estimated reserves, and the amount of royalties to be paid out. There are different types of San Antonio Texas Division Orders based on the nature of the ownership interests in the oil and gas well. Some common types include: 1. Working Interest Division Order: This type of division order is issued to parties who have leased out their land to an operator and hold a percentage interest in both the operation costs and the production revenues. 2. Royalty Interest Division Order: This division order is issued to individuals or entities who own a percentage interest in the revenues generated from the sale of production but do not bear any financial liability for operational costs. 3. Overriding Royalty Interest Division Order: This division order is issued to individuals or entities who hold a percentage interest in revenue from an oil and gas lease but have no ownership interest in the lease itself. It is typically granted to investors or third parties who retain overriding royalty interests. The San Antonio Texas Division Order is a critical document that ensures transparency and fairness in the distribution of oil and gas proceeds. It serves as a legally binding agreement between the parties involved, safeguarding their rights and streamlining the payment process.