Maine Royalty Owner's Supplement to Purchaser's Division Order or Transfer Order is a legal document that outlines the specific details of the agreement and terms between a royalty owner and a purchaser regarding the division of royalties in the state of Maine. It serves as a supplementary document to the primary Division Order or Transfer Order. The Maine Royalty Owner's Supplement to Purchaser's Division Order or Transfer Order contains several key elements necessary for a clear understanding of the arrangement. These elements include: 1. Royalty Owner Information: This section includes the full name, address, contact details, and any relevant identification numbers pertaining to the royalty owner. 2. Purchaser Information: This section provides the complete details of the purchaser, including their legal name, address, contact information, and identification numbers. 3. Effective Date: The effective date indicates the date from which the agreement comes into effect, ensuring that both parties are aware of when the terms of the document become binding. 4. Primary Division Order or Transfer Order Reference: This section references the primary Division Order or Transfer Order, which serves as the primary agreement between the royalty owner and purchaser. It includes the order number, date, and any other specific details required for cross-referencing purposes. 5. Division of Royalties: This crucial section specifies how the royalties and other related payments will be divided between the royalty owner and purchaser. The terms typically include information such as the percentage or decimal interest retained by the royalty owner, any specified deductions or expenses borne by the royalty owner, and the manner and frequency of royalty payments. 6. Payment and Reporting Obligations: This segment outlines the payment schedule and reporting obligations of both parties. It includes information about the frequency of royalty payments, the mode of payment, and any specific reporting requirements or deadlines. 7. Deductions and Withholding: This section explains any deductions, withholding, or fees that may be subtracted from the royalty payments before they are disbursed to the royalty owner. It clarifies the basis for such deductions, such as production costs, taxes, or other relevant expenses, ensuring transparency and adherence to legal requirements. 8. Governing Law and Jurisdiction: This segment establishes the applicable governing law and jurisdiction under which any disputes arising from the agreement will be resolved. Different types of Maine Royalty Owner's Supplement to Purchaser's Division Order or Transfer Order may vary depending on the specific provisions and requirements of the agreement. For instance, there may be variations in the language used, additional clauses catering to unique circumstances, or specifications tailored to different types of royalty interests (e.g., oil, gas, mining). It is important for both the royalty owner and the purchaser to carefully review and understand the Maine Royalty Owner's Supplement to Purchaser's Division Order or Transfer Order to ensure compliance with state regulations and to protect their respective interests and rights.
Maine Royalty Owner's Supplement to Purchaser's Division order or Transfer order
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How to fill out Royalty Owner's Supplement To Purchaser's Division Order Or Transfer Order?
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A Division order is an instrument that records an owner's interest in a specific well. It should include the name of the well, the well number, interest type, and your decimal interest. Division Order - ConocoPhillips conocophillips.com ? us-interest-owners ? di... conocophillips.com ? us-interest-owners ? di...
A division order is a contract between you and the operator (an oil and gas company). Typically, receiving a division order means that the operator is about to drill, or that the operator has already drilled a well and your minerals are producing. The Division Order?What Every Mineral Owner Should Know Graft & Walraven ? the-division-order-what-every... Graft & Walraven ? the-division-order-what-every...
A Division Order is an instrument which sets forth the proportional ownership in produced hydrocarbons, including crude oil, natural gas, and NGL's. Sometimes the Division Order is referred to as a division of interest. More often than not, a single well or lease will have multiple owners.
The decimal interest is calculated by dividing the number of acres the landowner has in the unit by the total number of acres in the unit, multiplied by the royalty percentage under the gas lease. What is a Division Order? - Marshall, Parker & Weber Marshall, Parker & Weber ? gas-law-resources ? di... Marshall, Parker & Weber ? gas-law-resources ? di...
A division order analyst works for a petroleum company and oversees company records. As a division order analyst, you establish, prepare, review, approve, and maintain documents regarding production and land ownership for royalty owners. You generally work as a part of the land department at an oil company. Division Order Analyst: What Is It? and How to Become One? - ZipRecruiter ziprecruiter.com ? Career ? What-Is-How-to... ziprecruiter.com ? Career ? What-Is-How-to...