North Dakota Division Orders

• Category: Oil Gas and Minerals - Landman
• State: Multi-State
• Control #: US-OG-1205
• Format: Word; Rich Text

Description

This form is used for division orders or purchaser information. North Dakota Division Orders are legal documents that outline the ownership and distribution of proceeds from oil and gas production in North Dakota. These orders play a crucial role in ensuring fair distribution of revenue among different parties involved in the oil and gas industry. In North Dakota, there are primarily two types of Division Orders: 1. Standard North Dakota Division Order: This type of division order typically pertains to the leasing of oil and gas properties. It specifies the interest and proportional ownership of each mineral interest owner in the production well. The order provides detailed information regarding the royalty interest, the decimal interest, and the net mineral acres owned by each individual or entity. 2. Limited North Dakota Division Order: This type of division order is usually employed when there is uncertainty or dispute over ownership of a well. It is utilized to limit the distribution of proceeds until the ownership is clarified through legal means. Limited division orders help protect the interests of all parties involved until ownership issues are resolved. North Dakota Division Orders contain several crucial elements, including: a) Legal description of the property: This includes the township, range, section, and quarter section where the well is located. b) Well information: The division order specifies the well name, operator, API number, and other relevant details pertaining to the well in question. c) Ownership interests: These orders outline the details of ownership interests held by mineral interest owners, including their percentage of ownership, net mineral acres, and decimal interest. d) Royalty interest: Division orders explain the percentage of royalty interest payable to the mineral owner based on the terms outlined in the lease agreement. e) Division of proceeds: These orders outline the method and frequency of payment distributions and provide instructions for the responsible parties on how to distribute the revenue generated from oil and gas production. f) Legal requirements: Division orders often incorporate specific legal provisions and requirements, such as affidavits or notarization, to ensure legal enforceability and accuracy of the information provided. Understanding North Dakota Division Orders is crucial for individuals and entities involved in the oil and gas industry in North Dakota to ensure fair and accurate distribution of proceeds.

North Dakota Division Orders are legal documents that outline the ownership and distribution of proceeds from oil and gas production in North Dakota. These orders play a crucial role in ensuring fair distribution of revenue among different parties involved in the oil and gas industry. In North Dakota, there are primarily two types of Division Orders: 1. Standard North Dakota Division Order: This type of division order typically pertains to the leasing of oil and gas properties. It specifies the interest and proportional ownership of each mineral interest owner in the production well. The order provides detailed information regarding the royalty interest, the decimal interest, and the net mineral acres owned by each individual or entity. 2. Limited North Dakota Division Order: This type of division order is usually employed when there is uncertainty or dispute over ownership of a well. It is utilized to limit the distribution of proceeds until the ownership is clarified through legal means. Limited division orders help protect the interests of all parties involved until ownership issues are resolved. North Dakota Division Orders contain several crucial elements, including: a) Legal description of the property: This includes the township, range, section, and quarter section where the well is located. b) Well information: The division order specifies the well name, operator, API number, and other relevant details pertaining to the well in question. c) Ownership interests: These orders outline the details of ownership interests held by mineral interest owners, including their percentage of ownership, net mineral acres, and decimal interest. d) Royalty interest: Division orders explain the percentage of royalty interest payable to the mineral owner based on the terms outlined in the lease agreement. e) Division of proceeds: These orders outline the method and frequency of payment distributions and provide instructions for the responsible parties on how to distribute the revenue generated from oil and gas production. f) Legal requirements: Division orders often incorporate specific legal provisions and requirements, such as affidavits or notarization, to ensure legal enforceability and accuracy of the information provided. Understanding North Dakota Division Orders is crucial for individuals and entities involved in the oil and gas industry in North Dakota to ensure fair and accurate distribution of proceeds.