This lease rider form may be used when you are involved in a lease transaction, and have made the decision to utilize the form of Oil and Gas Lease presented to you by the Lessee, and you want to include additional provisions to that Lease form to address specific concerns you may have, or place limitations on the rights granted the Lessee in the “standard” lease form.
Division Orders
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Multi-State
Control #:
US-OG-789
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Word;
Rich Text
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FAQ
A division order is a record of your interest in a specific well. It contains your decimal interest, interest type, well number and well name. Division orders are issued to all that own an interest in a specific well after that well has achieved first sales of either oil or gas.
A Division Order (DO's), also known as a Division of Interest (DOI), is the instrument which details the proportional ownership of produced minerals, including oil, liquids, natural gas, etc., in a well or unitized area of production.
For all three division symbols, we say divided by. The division in a is read from left to right: twelve divided by six. The division in b is read from top to bottom: twelve divided by six. The division in c is written with a division box. We read the number inside the box first: twelve divided by six.
Net revenue is the amount that is shared among the property owners. To determine net revenue interest, multiply the royalty interest by the owner's shared interest. For example, if you have a 5/16 royalty, your net royalty interest would be 25% multiplied by 5/16, which equals 7.8125% calculated to four decimal places.
A Division Order (DO's), also known as a Division of Interest (DOI), is the instrument which details the proportional ownership of produced minerals, including oil, liquids, natural gas, etc., in a well or unitized area of production.
Division is breaking a number up into an equal number of parts. Example: 20 divided by 4 = ? If you take 20 things and put them into four equal sized groups, there will be 5 things in each group.
We always follow division with multiplication, multiplying the divisor by the number we put at the top of our division problem. In this case, it would be 7 x 1, which is 7, so we would write 7 underneath the 11.
Your job as a Division Order Analyst is to determine each owner's share, and distribute checks accordingly. You may work for only one company, keeping detailed records about the people who own the company's equipment and resources.