North Carolina Division Order is a legal document or contract used in the oil and gas industry that outlines the division of proceeds among royalty owners and working interest owners from the production of hydrocarbons within the state of North Carolina. It serves as an agreement between the operator, who explores and produces oil and gas resources, and the various interests that have rights to these resources. The North Carolina Division Order specifically addresses the distribution of revenue generated from the sale of oil, natural gas, and related hydrocarbons. It includes important information such as property identification, names of royalty and working interest owners, their respective shares, decimal interests, lease and well information, and details of revenue payment procedures. This legal document is essential for ensuring proper distribution and accounting of the proceeds generated from the oil and gas production. It helps maintain transparency and accountability among all parties involved and minimizes the risk of disputes or misunderstandings. In North Carolina, there are no specific types of division orders that differ from other states. The concept and purpose of a division order remain consistent across jurisdictions. However, it's important to note that specific details and terms within a division order may vary depending on the terms of the relevant lease agreement and the unique circumstances of each oil and gas project in North Carolina. In summary, a North Carolina Division Order is a critical legal instrument used in the oil and gas industry for revenue distribution among royalty and working interest owners. It ensures proper accounting and transparency in the allocation of proceeds and helps prevent conflicts or misunderstandings.
North Carolina Division Order
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