New Hampshire Division Order

State:
Multi-State
Control #:
US-OG-068
Format:
Word; 
Rich Text
Instant download

Description

This is the model form which many companies now use. New Hampshire Division Order is a legal document used in the oil and gas industry that outlines the ownership percentages and distribution of revenue from the production of oil and gas in New Hampshire. It is a crucial part of the drilling and production process, ensuring accurate and fair distribution of profits among mineral rights owners. The primary purpose of the New Hampshire Division Order is to establish the interests and obligations of all parties involved in the extraction, production, and sale of oil and gas resources. It serves as a contractual agreement between the operator, who is responsible for the exploration and production activities, and the mineral rights owners, who hold the legal claim to the underground resources. Key elements that are typically included in a New Hampshire Division Order are: 1. Property description: A detailed legal description of the land or area where oil and gas drilling is taking place, including survey information and specific mineral lease information. 2. Owner information: Contains the names and contact details of all owners and their respective ownership interests in the production unit. 3. Decimal interest: The decimal interest represents the proportionate share of each owner in the unit and determines the distribution of revenue. 4. Royalty interest: The royalty interest specifies the percentage of revenue that the mineral rights' owner is entitled to receive from production. Often, this is set out in the original oil and gas lease agreement. 5. Payment details: Includes instructions on how revenue from oil and gas sales will be distributed and the frequency of the payments. 6. Well information: Provides information about the well, such as the API number, well name, and specific location, along with the operator's name and address. 7. Signature: All owners must sign the Division Order, demonstrating their agreement to the terms and conditions. While there might not be different types of New Hampshire Division Order, the contents and specific details within the document can vary depending on the particular circumstances and agreements between the involved parties. In conclusion, the New Hampshire Division Order is an essential legal document in the oil and gas industry, ensuring accurate and fair distribution of revenue among mineral rights owners. It establishes ownership percentages, outlines payment details, and provides information about the well and parties involved.

New Hampshire Division Order is a legal document used in the oil and gas industry that outlines the ownership percentages and distribution of revenue from the production of oil and gas in New Hampshire. It is a crucial part of the drilling and production process, ensuring accurate and fair distribution of profits among mineral rights owners. The primary purpose of the New Hampshire Division Order is to establish the interests and obligations of all parties involved in the extraction, production, and sale of oil and gas resources. It serves as a contractual agreement between the operator, who is responsible for the exploration and production activities, and the mineral rights owners, who hold the legal claim to the underground resources. Key elements that are typically included in a New Hampshire Division Order are: 1. Property description: A detailed legal description of the land or area where oil and gas drilling is taking place, including survey information and specific mineral lease information. 2. Owner information: Contains the names and contact details of all owners and their respective ownership interests in the production unit. 3. Decimal interest: The decimal interest represents the proportionate share of each owner in the unit and determines the distribution of revenue. 4. Royalty interest: The royalty interest specifies the percentage of revenue that the mineral rights' owner is entitled to receive from production. Often, this is set out in the original oil and gas lease agreement. 5. Payment details: Includes instructions on how revenue from oil and gas sales will be distributed and the frequency of the payments. 6. Well information: Provides information about the well, such as the API number, well name, and specific location, along with the operator's name and address. 7. Signature: All owners must sign the Division Order, demonstrating their agreement to the terms and conditions. While there might not be different types of New Hampshire Division Order, the contents and specific details within the document can vary depending on the particular circumstances and agreements between the involved parties. In conclusion, the New Hampshire Division Order is an essential legal document in the oil and gas industry, ensuring accurate and fair distribution of revenue among mineral rights owners. It establishes ownership percentages, outlines payment details, and provides information about the well and parties involved.

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New Hampshire Division Order