Alaska Division Orders are legal documents used in the oil and gas industry to designate the proper distribution of royalty and other monetary interests among various stakeholders within a specific oil and gas leasehold. These orders outline the specific details of how the revenue generated from the production of oil and gas will be distributed, and serve as a contractual agreement between the royalty owners, working interest owners, and the operator of the lease. Keywords: Alaska Division Orders, legal documents, oil and gas industry, distribution of royalty, monetary interests, oil and gas leasehold, revenue distribution, contractual agreement, royalty owners, working interest owners, operator of the lease. In Alaska, there are primarily two types of Division Orders that are commonly used: 1. Division Order — Standard: This type of Division Order is used when the leasehold interests and revenue distributions are straightforward. It typically includes information such as the legal description of the property, the tract or unit designation, the names and addresses of the royalty owners, decimals representing their ownership interest, and payment instructions. It also provides the terms and conditions under which the operator will make payments to the owners. 2. Division Order — Complex: In instances where the leasehold interests and revenue distributions are complex, a Complex Division Order is utilized. This type of order involves multiple pay zones, commoditization agreements, or other complexities that require additional clarification. It includes all the information found in a Standard Division Order, but it may also contain specific provisions related to the complexities involved. These provisions could outline the allocation and distribution methods, as well as any adjustments or deductions that may be necessary. Both types of Division Order play a crucial role in accurately allocating revenue among the various stakeholders in Alaska's oil and gas industry. They ensure that the interests of both royalty owners and working interest owners are protected and that the distribution of revenue is conducted in a fair and transparent manner. Note: It is important to consult with legal professionals or experts in Alaska's oil and gas industry to obtain specific and up-to-date information on Division Orders and their types in the state.
Alaska Division Orders
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