Colorado Oil and Gas Division Order

• Category: Oil Gas and Minerals - Division and Transfer Orders
• State: Multi-State
• Control #: US-OG-323
• Format: Word; Rich Text

Description

This form is used to determine revenue payments and is issued to interest owners for a signature. The form includes the name of the interest owner, the interest for each interest owner, a legal description of the property, and the operator's name. The Colorado Oil and Gas Division Order is a critical legal document that governs the distribution of production revenue among the various interest owners in a specific oil and gas well or lease in the state of Colorado. It serves as a comprehensive agreement that outlines the rights and obligations of the parties involved. The Division Order contains detailed information about the well or lease, including its legal description, production data, operator details, and the names and addresses of all interest owners. This document is used by operators to accurately allocate and disburse the revenue generated from the sale of oil and gas production. Keywords: Colorado Oil and Gas Division Order, production revenue, interest owners, oil and gas well, lease, legal description, production data, operator, allocate, disburse. Different types of Colorado Oil and Gas Division Orders: 1. Standard Division Order: This is the most common type of Division Order used in Colorado. It covers the distribution of revenue from oil and gas production among the interest owners according to their respective ownership percentages. 2. Unit Division Order: In cases where multiple wells or leases are combined into a single production unit, a Unit Division Order is used. It ensures equitable distribution of revenue among the interest owners based on their proportionate ownership in the entire unit. 3. Pooled Unit Division Order: When multiple wells or leases are pooled together for efficient production and development, a Pooled Unit Division Order is utilized. It enables the interest owners to share revenue according to their respective interests in the pooled unit. 4. Commingling Division Order: In situations where multiple oil or gas reservoirs are mixed together for extraction and production, a Commingling Division Order is employed. It allows the allocation of revenue from the commingled production among the interest owners based on their individual ownership percentages. Each type of Division Order ensures transparency, accuracy, and fair distribution of production revenue among the interest owners in accordance with the Colorado Oil and Gas Conservation Act and other relevant regulations. Keywords: Standard Division Order, Unit Division Order, Pooled Unit Division Order, Commingling Division Order, revenue distribution, ownership percentages, production unit, pooled unit, commingled production, transparency, accuracy, fair distribution, Colorado Oil and Gas Conservation Act.

The Colorado Oil and Gas Division Order is a critical legal document that governs the distribution of production revenue among the various interest owners in a specific oil and gas well or lease in the state of Colorado. It serves as a comprehensive agreement that outlines the rights and obligations of the parties involved. The Division Order contains detailed information about the well or lease, including its legal description, production data, operator details, and the names and addresses of all interest owners. This document is used by operators to accurately allocate and disburse the revenue generated from the sale of oil and gas production. Keywords: Colorado Oil and Gas Division Order, production revenue, interest owners, oil and gas well, lease, legal description, production data, operator, allocate, disburse. Different types of Colorado Oil and Gas Division Orders: 1. Standard Division Order: This is the most common type of Division Order used in Colorado. It covers the distribution of revenue from oil and gas production among the interest owners according to their respective ownership percentages. 2. Unit Division Order: In cases where multiple wells or leases are combined into a single production unit, a Unit Division Order is used. It ensures equitable distribution of revenue among the interest owners based on their proportionate ownership in the entire unit. 3. Pooled Unit Division Order: When multiple wells or leases are pooled together for efficient production and development, a Pooled Unit Division Order is utilized. It enables the interest owners to share revenue according to their respective interests in the pooled unit. 4. Commingling Division Order: In situations where multiple oil or gas reservoirs are mixed together for extraction and production, a Commingling Division Order is employed. It allows the allocation of revenue from the commingled production among the interest owners based on their individual ownership percentages. Each type of Division Order ensures transparency, accuracy, and fair distribution of production revenue among the interest owners in accordance with the Colorado Oil and Gas Conservation Act and other relevant regulations. Keywords: Standard Division Order, Unit Division Order, Pooled Unit Division Order, Commingling Division Order, revenue distribution, ownership percentages, production unit, pooled unit, commingled production, transparency, accuracy, fair distribution, Colorado Oil and Gas Conservation Act.