Oregon 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. Oregon Division Orders are legal documents that outline the allocation and distribution of revenue generated from the sale of oil, gas, or mineral resources among the owners of a particular well or lease in the state of Oregon. These orders play a crucial role in ensuring fair distribution of royalty payments and ensuring compliance with state laws and regulations. A typical Oregon Division Order contains detailed information such as the names and addresses of the various interest owners in the well or lease, their respective ownership percentages, the legal description of the property, the effective date of the order, and the terms and conditions governing the division of revenue. It serves as a binding agreement between the operator of the well and the interest owners, governing their rights and obligations with respect to the production and sale of resources. In Oregon, there are primarily two types of Division Orders: 1. Producing Division Orders: These are issued when a well begins commercial production. The order outlines the specific percentages of revenue that each interest owner is entitled to receive based on their ownership stake. It also provides instructions for the operator to distribute the revenue accordingly. 2. Unitization Division Orders: Unitization refers to the pooling of multiple leases or tracts of land, combining them into a single unit for the purpose of efficient resource extraction. Unitization Division Orders are issued in situations where multiple leases or interests are part of an unitization agreement. These orders establish the distribution percentages among the interest owners within the unit and are often more complex than traditional producing division orders due to the involvement of multiple parties. It is important for interest owners in Oregon to review their Division Orders carefully to ensure the accuracy of information, such as ownership percentages and contact details. In case of any discrepancies or concerns, it is advisable to consult an attorney or mineral rights professional who specializes in oil and gas regulations in Oregon. Overall, Oregon Division Orders are crucial legal documents that outline the allocation of revenue among interest owners in oil, gas, or mineral wells or leases. Upholding the integrity and accuracy of these orders ensures fair distribution of royalty payments and compliance with state regulations.

Oregon Division Orders are legal documents that outline the allocation and distribution of revenue generated from the sale of oil, gas, or mineral resources among the owners of a particular well or lease in the state of Oregon. These orders play a crucial role in ensuring fair distribution of royalty payments and ensuring compliance with state laws and regulations. A typical Oregon Division Order contains detailed information such as the names and addresses of the various interest owners in the well or lease, their respective ownership percentages, the legal description of the property, the effective date of the order, and the terms and conditions governing the division of revenue. It serves as a binding agreement between the operator of the well and the interest owners, governing their rights and obligations with respect to the production and sale of resources. In Oregon, there are primarily two types of Division Orders: 1. Producing Division Orders: These are issued when a well begins commercial production. The order outlines the specific percentages of revenue that each interest owner is entitled to receive based on their ownership stake. It also provides instructions for the operator to distribute the revenue accordingly. 2. Unitization Division Orders: Unitization refers to the pooling of multiple leases or tracts of land, combining them into a single unit for the purpose of efficient resource extraction. Unitization Division Orders are issued in situations where multiple leases or interests are part of an unitization agreement. These orders establish the distribution percentages among the interest owners within the unit and are often more complex than traditional producing division orders due to the involvement of multiple parties. It is important for interest owners in Oregon to review their Division Orders carefully to ensure the accuracy of information, such as ownership percentages and contact details. In case of any discrepancies or concerns, it is advisable to consult an attorney or mineral rights professional who specializes in oil and gas regulations in Oregon. Overall, Oregon Division Orders are crucial legal documents that outline the allocation of revenue among interest owners in oil, gas, or mineral wells or leases. Upholding the integrity and accuracy of these orders ensures fair distribution of royalty payments and compliance with state regulations.