Illinois Oil and Gas Transfer Order

State:
Multi-State
Control #:
US-OG-324
Format:
Word; 
Rich Text
Instant download

Description

This form is used to commence revenue payments when ownership is being transferred between parties. The Transfer Order includes the name of each interest owner, the interest for each interest owner, a legal description of the property, and the operator's name.


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How to fill out Oil And Gas Transfer Order?

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FAQ

The adoption of rules pertaining to the conservation of oil and gas. concerning the improvement of methods, conditions, and equipment for the production of oil and gas. the proper drilling, casing and plugging of oil wells. issuance of proper permits to drill oil and gas wells. 225 ILCS 725/ Illinois Oil and Gas Act. Illinois General Assembly (.gov) ? legislation ? ilcs ? ilcs3 Illinois General Assembly (.gov) ? legislation ? ilcs ? ilcs3

Oil and gas law in the United States is the branch of law that pertains to the acquisition and ownership rights in oil and gas both under the soil before discovery and after its capture, and adjudication regarding those rights. Oil and gas law in the United States - Wikipedia wikipedia.org ? wiki ? Oil_and_gas_law_in_th... wikipedia.org ? wiki ? Oil_and_gas_law_in_th...

Definition. The Gas Use Tax Act is imposed on persons who purchase natural gas from outside of Illinois for their own use (not for resale). Purchasers may pay the Gas Use Tax to their distributor or may elect to become a self-assessor. Gas Use Tax - Illinois Department of Revenue illinois.gov ? research ? taxinformation ? excise illinois.gov ? research ? taxinformation ? excise

Illinois Oil and Gas Act (225 ILCS 725) provides for the conservation of oil and gas resources through the protection of correlative rights, proper well spacing, integration and unitization of mineral interests; and for the regulation of the drilling, construction, operation, and plugging of oil and gas production ...

As such, many legislatures enacted the rule of capture concerning oil and gas located beneath a property. Under this rule, a person who digs a well and captures oil and gas from beneath the property is the lawful owner of the oil and gas, even though some of that oil and gas was drained from an adjacent property. The Ownership in Place Rule | H and L handl.com ? the-ownership-in-place-rule handl.com ? the-ownership-in-place-rule

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Illinois Oil and Gas Transfer Order