Guam Division Order

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

Description

This is the model form which many companies now use. Guam Division Order is a legal document that outlines the distribution of proceeds from the sale of oil and gas production in the Guam region. This document is essential for determining the ownership interest and payment allocation to various parties involved in the extraction and production of oil and gas resources. The Guam Division Order contains important information such as the legal description of the property, the operator's name, and the names of the various interest owners or divisions. It specifies the decimal interest or fractional ownership percentage of each party involved. This document plays a crucial role in ensuring fair and accurate distribution of revenues generated from the oil and gas production activities in Guam. There are different types of Guam Division Orders, including: 1. Individual Division Orders: These are issued to individual interest owners or divisions, stating their specific ownership percentage and allocation of proceeds from the sale of oil and gas production. 2. Joint Division Orders: In cases where multiple parties share an interest in the production, joint division orders are created. These orders provide a detailed breakdown of the shared ownership interest and the corresponding allocation of revenue among the joint interest owners. 3. Unit Division Orders: In certain oil and gas fields, an unitized approach is utilized to manage production activities. Unit division orders are issued to unite all the interest owners within a unit area, specifying their ownership percentage and revenue allocation. 4. Amended Division Orders: When there are changes in ownership, such as acquisition, transfer, or change in the decimal interest, amended division orders are issued to reflect the updated ownership structure and ensure accurate distribution of proceeds. It is important for all parties involved to carefully review and understand the Guam Division Order to ensure their ownership interests are accurately reflected, and the distribution of revenue is fair and transparent. This document serves as a legal agreement among the stakeholders and plays a crucial role in the management of oil and gas production activities in Guam.

Guam Division Order is a legal document that outlines the distribution of proceeds from the sale of oil and gas production in the Guam region. This document is essential for determining the ownership interest and payment allocation to various parties involved in the extraction and production of oil and gas resources. The Guam Division Order contains important information such as the legal description of the property, the operator's name, and the names of the various interest owners or divisions. It specifies the decimal interest or fractional ownership percentage of each party involved. This document plays a crucial role in ensuring fair and accurate distribution of revenues generated from the oil and gas production activities in Guam. There are different types of Guam Division Orders, including: 1. Individual Division Orders: These are issued to individual interest owners or divisions, stating their specific ownership percentage and allocation of proceeds from the sale of oil and gas production. 2. Joint Division Orders: In cases where multiple parties share an interest in the production, joint division orders are created. These orders provide a detailed breakdown of the shared ownership interest and the corresponding allocation of revenue among the joint interest owners. 3. Unit Division Orders: In certain oil and gas fields, an unitized approach is utilized to manage production activities. Unit division orders are issued to unite all the interest owners within a unit area, specifying their ownership percentage and revenue allocation. 4. Amended Division Orders: When there are changes in ownership, such as acquisition, transfer, or change in the decimal interest, amended division orders are issued to reflect the updated ownership structure and ensure accurate distribution of proceeds. It is important for all parties involved to carefully review and understand the Guam Division Order to ensure their ownership interests are accurately reflected, and the distribution of revenue is fair and transparent. This document serves as a legal agreement among the stakeholders and plays a crucial role in the management of oil and gas production activities in Guam.