Description: A North Dakota Division Order is a legal document used in the oil and gas industry to allocate and distribute production revenues among the various owners of mineral rights in a specific well or field in North Dakota. It outlines the terms and conditions for the division and payment of royalties, working interest, and other financial obligations associated with oil and gas production. The North Dakota Division Order is crucial as it ensures a fair distribution of income to all parties involved in oil and gas ownership. It establishes the rights and responsibilities of both the operator and the mineral owners, providing clarity and transparency in revenue distribution. The document contains comprehensive information, such as the legal description of the property, the identification of the well or lease, the allocated interest percentages for each owner, and details regarding the payment process. It provides a breakdown of the various revenue streams, such as oil, gas, natural gas liquids (GLS), and condensates, and specifies the decimal interest or royalty interest attributed to each individual owner. In North Dakota, there are different types of Division Orders that may be utilized depending on the specifics of the oil and gas operation: 1. Standard Division Order: This is the most common type of Division Order used in North Dakota. It outlines the standard terms and conditions for the distribution of production revenue, including royalty payments, working interest, and other financial obligations. 2. Division Order with Horizontal Pooling Provision: In cases where horizontal drilling and pooling techniques are employed to extract oil and gas, a Division Order may include provisions specifying the rights and obligations related to pooled interest and unitization agreements. 3. Division Order Amendment: In situations where there are changes to the initial Division Order, an amendment may be issued to reflect the updated terms and percentages of ownership. This could occur due to changes in the well's production, a change in ownership, or other relevant factors. Overall, a North Dakota Division Order is a vital legal document that ensures a fair and transparent distribution of oil and gas revenues among the various owners of mineral rights. It provides clarity, establishes rights and responsibilities, and helps maintain a smooth financial process within the oil and gas industry.
North Dakota Division Order
Description
How to fill out North Dakota Division Order?
Choosing the right legal papers design could be a have difficulties. Obviously, there are a variety of web templates available on the net, but how do you find the legal form you want? Make use of the US Legal Forms internet site. The service offers 1000s of web templates, such as the North Dakota Division Order, that can be used for business and personal needs. All the forms are checked by professionals and fulfill federal and state specifications.
In case you are already signed up, log in to your account and click on the Down load key to obtain the North Dakota Division Order. Use your account to look throughout the legal forms you might have ordered earlier. Proceed to the My Forms tab of the account and get yet another duplicate of the papers you want.
In case you are a whole new customer of US Legal Forms, listed below are easy instructions that you should adhere to:
- First, be sure you have chosen the proper form for your city/region. You can look over the shape while using Review key and look at the shape description to make sure it is the best for you.
- If the form is not going to fulfill your expectations, utilize the Seach industry to obtain the appropriate form.
- Once you are positive that the shape is proper, click on the Get now key to obtain the form.
- Choose the costs program you need and type in the essential information and facts. Design your account and pay money for your order utilizing your PayPal account or credit card.
- Pick the data file formatting and down load the legal papers design to your gadget.
- Total, change and print and indicator the obtained North Dakota Division Order.
US Legal Forms is the largest local library of legal forms in which you can discover various papers web templates. Make use of the company to down load professionally-produced documents that adhere to state specifications.