Maine 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. Maine Oil and Gas Division Order, also known as the Maine Division Order, is a legal document that governs the distribution and allocation of oil and gas proceeds to the various interest owners in an oil or gas well in the state of Maine. It is a crucial instrument used by the Maine Oil and Gas Division to ensure the fair and accurate distribution of revenues from oil and gas production activities. The Maine Oil and Gas Division Order is designed to establish and outline the ownership interests, working interests, and royalty interests in a well. It specifies the proportionate share of production and revenue that each interest owner is entitled to receive. This order is vital in preventing conflicts and disputes among the co-owners and ensures transparency and accountability in the oil and gas industry. There are different types of Maine Oil and Gas Division Orders, including: 1. Standard Division Order: This is the most common type of division order used in Maine. It establishes the proportional ownership interests and provides the necessary information regarding the distribution of proceeds. 2. Supplemental Division Order: This type of order is used when there are changes or updates required in the original division order. It may be issued in situations such as change in ownership, adjustments in royalties, or modification in working interests. 3. Ratification Division Order: A ratification order is issued when there is a need to validate or confirm the existing division order due to discrepancies or errors. It ensures that all parties involved agree on the ownership interests and the distribution of proceeds. 4. Amended Division Order: An amended order is issued when there are significant changes in the ownership structure or when adjustments need to be made to the existing division order. This type of order is common in cases involving mergers, acquisitions, or changes in the working interest percentages. 5. Revocation Division Order: A revocation order is issued in rare circumstances when there is a need to cancel or revoke the existing division order. This may occur due to legal disputes, fraud, or changes in the regulatory framework. In conclusion, the Maine Oil and Gas Division Order is a critical document that ensures the fair distribution of oil and gas proceeds among interest owners. It plays a vital role in maintaining transparency and preventing conflicts within the industry. The different types of division orders, including the standard, supplemental, ratification, amended, and revocation orders, provide flexibility to accommodate changes and resolve any discrepancies that may arise during the production and distribution process.

Maine Oil and Gas Division Order, also known as the Maine Division Order, is a legal document that governs the distribution and allocation of oil and gas proceeds to the various interest owners in an oil or gas well in the state of Maine. It is a crucial instrument used by the Maine Oil and Gas Division to ensure the fair and accurate distribution of revenues from oil and gas production activities. The Maine Oil and Gas Division Order is designed to establish and outline the ownership interests, working interests, and royalty interests in a well. It specifies the proportionate share of production and revenue that each interest owner is entitled to receive. This order is vital in preventing conflicts and disputes among the co-owners and ensures transparency and accountability in the oil and gas industry. There are different types of Maine Oil and Gas Division Orders, including: 1. Standard Division Order: This is the most common type of division order used in Maine. It establishes the proportional ownership interests and provides the necessary information regarding the distribution of proceeds. 2. Supplemental Division Order: This type of order is used when there are changes or updates required in the original division order. It may be issued in situations such as change in ownership, adjustments in royalties, or modification in working interests. 3. Ratification Division Order: A ratification order is issued when there is a need to validate or confirm the existing division order due to discrepancies or errors. It ensures that all parties involved agree on the ownership interests and the distribution of proceeds. 4. Amended Division Order: An amended order is issued when there are significant changes in the ownership structure or when adjustments need to be made to the existing division order. This type of order is common in cases involving mergers, acquisitions, or changes in the working interest percentages. 5. Revocation Division Order: A revocation order is issued in rare circumstances when there is a need to cancel or revoke the existing division order. This may occur due to legal disputes, fraud, or changes in the regulatory framework. In conclusion, the Maine Oil and Gas Division Order is a critical document that ensures the fair distribution of oil and gas proceeds among interest owners. It plays a vital role in maintaining transparency and preventing conflicts within the industry. The different types of division orders, including the standard, supplemental, ratification, amended, and revocation orders, provide flexibility to accommodate changes and resolve any discrepancies that may arise during the production and distribution process.