This form is used to commence revenue payments when ownership is being transferred between parties. The Transfer Order includes the name of each interest owner, the interest for each interest owner, a legal description of the property, and the operator's name.
The New Mexico Oil and Gas Transfer Order is an official document that regulates the transfer of oil and gas assets in the state of New Mexico. This order plays a crucial role in ensuring the smooth and efficient transfer of ownership rights and interests in oil and gas properties. It outlines the procedures and requirements that individuals or companies must follow in order to complete a legally recognized transfer of these valuable resources. The New Mexico Oil and Gas Transfer Order encompasses various types of transfers, each designed to address specific situations and requirements. Some different types of transfers recognized under this order include: 1. Assignment of Oil and Gas Lease: This type of transfer involves the assignment of leasehold rights from one party to another. It typically occurs when a lessee wishes to transfer their interest in an oil and gas lease to a third party. The assignment may involve partial or complete transfer of lease rights. 2. Conveyance of Mineral Rights: This transfer involves the transfer of ownership of mineral rights, including the right to extract and produce oil and gas resources, from one entity to another. It typically involves the transfer of ownership in fee or surface rights, which provide the legal right to explore, develop, and extract oil and gas from the property. 3. Farm out Agreement: A farm out agreement refers to a transfer of the rights to explore and develop oil and gas resources from one party, known as the armor, to another party, known as the farmer. This type of transfer often occurs when the armor is unable or unwilling to undertake exploration or development activities themselves. 4. Surface Use Agreement: While not directly related to the transfer of oil and gas rights, this type of agreement outlines the terms and conditions under which a third party can access the surface of a property to undertake oil and gas operations. Such agreements define the compensation to be paid to the surface owner for any disturbance or damage caused. In conclusion, the New Mexico Oil and Gas Transfer Order is a necessary legal framework that facilitates the proper transfer of oil and gas interests in New Mexico. It recognizes various types of transfers such as assignment of oil and gas lease, conveyance of mineral rights, farm out agreements, and surface use agreements, ensuring a smooth transition of ownership while safeguarding the interests of all involved parties.The New Mexico Oil and Gas Transfer Order is an official document that regulates the transfer of oil and gas assets in the state of New Mexico. This order plays a crucial role in ensuring the smooth and efficient transfer of ownership rights and interests in oil and gas properties. It outlines the procedures and requirements that individuals or companies must follow in order to complete a legally recognized transfer of these valuable resources. The New Mexico Oil and Gas Transfer Order encompasses various types of transfers, each designed to address specific situations and requirements. Some different types of transfers recognized under this order include: 1. Assignment of Oil and Gas Lease: This type of transfer involves the assignment of leasehold rights from one party to another. It typically occurs when a lessee wishes to transfer their interest in an oil and gas lease to a third party. The assignment may involve partial or complete transfer of lease rights. 2. Conveyance of Mineral Rights: This transfer involves the transfer of ownership of mineral rights, including the right to extract and produce oil and gas resources, from one entity to another. It typically involves the transfer of ownership in fee or surface rights, which provide the legal right to explore, develop, and extract oil and gas from the property. 3. Farm out Agreement: A farm out agreement refers to a transfer of the rights to explore and develop oil and gas resources from one party, known as the armor, to another party, known as the farmer. This type of transfer often occurs when the armor is unable or unwilling to undertake exploration or development activities themselves. 4. Surface Use Agreement: While not directly related to the transfer of oil and gas rights, this type of agreement outlines the terms and conditions under which a third party can access the surface of a property to undertake oil and gas operations. Such agreements define the compensation to be paid to the surface owner for any disturbance or damage caused. In conclusion, the New Mexico Oil and Gas Transfer Order is a necessary legal framework that facilitates the proper transfer of oil and gas interests in New Mexico. It recognizes various types of transfers such as assignment of oil and gas lease, conveyance of mineral rights, farm out agreements, and surface use agreements, ensuring a smooth transition of ownership while safeguarding the interests of all involved parties.
