Clark Nevada Division Order

• Category: Oil Gas and Minerals - Division and Transfer Orders
• State: Multi-State
• County: Clark
• Control #: US-OG-068
• Format: Word; Rich Text

Description

This is the model form which many companies now use. The Clark Nevada Division Order is a legal document that serves as an agreement between oil and gas companies and mineral owners in the Clark County, Nevada area. It outlines the terms and conditions for the distribution of revenues generated from the production and sale of oil and gas from the mineral rights owned by the individuals or entities involved. This agreement is crucial in ensuring transparency and fairness in the distribution of profits among all parties involved. It provides a clear understanding of the percentages and proportions of revenue that each party is entitled to receive. The Clark Nevada Division Order sets forth important details such as the specific land or well location, the effective date of the agreement, and the designated entities responsible for making the payments. There are generally two types of Clark Nevada Division Orders — the Standard Division Order and the Modified Division Order. 1. Standard Division Order: The standard division order is the most common type used in oil and gas contracts. It typically includes standard provisions and terms that are widely accepted within the industry. This type of division order is suitable for straightforward ownership situations where there are no extraordinary circumstances that require special provisions or modifications. 2. Modified Division Order: The modified division order is tailored to specific circumstances or unique situations that may exist in a particular Clark Nevada oil and gas lease. It includes additional or alternative provisions beyond those found in a standard division order. These modifications address special circumstances and ensure that the division of revenues is fair and equitable for all parties involved. The Clark Nevada Division Order is a crucial document that helps prevent disputes and conflicts over revenue distributions. It ensures that both the oil and gas companies and mineral owners are adequately compensated for their interests and investments. Legal professionals and experts in the oil and gas industry play a significant role in drafting and reviewing these division orders to ensure their accuracy and adherence to applicable laws and regulations.

The Clark Nevada Division Order is a legal document that serves as an agreement between oil and gas companies and mineral owners in the Clark County, Nevada area. It outlines the terms and conditions for the distribution of revenues generated from the production and sale of oil and gas from the mineral rights owned by the individuals or entities involved. This agreement is crucial in ensuring transparency and fairness in the distribution of profits among all parties involved. It provides a clear understanding of the percentages and proportions of revenue that each party is entitled to receive. The Clark Nevada Division Order sets forth important details such as the specific land or well location, the effective date of the agreement, and the designated entities responsible for making the payments. There are generally two types of Clark Nevada Division Orders — the Standard Division Order and the Modified Division Order. 1. Standard Division Order: The standard division order is the most common type used in oil and gas contracts. It typically includes standard provisions and terms that are widely accepted within the industry. This type of division order is suitable for straightforward ownership situations where there are no extraordinary circumstances that require special provisions or modifications. 2. Modified Division Order: The modified division order is tailored to specific circumstances or unique situations that may exist in a particular Clark Nevada oil and gas lease. It includes additional or alternative provisions beyond those found in a standard division order. These modifications address special circumstances and ensure that the division of revenues is fair and equitable for all parties involved. The Clark Nevada Division Order is a crucial document that helps prevent disputes and conflicts over revenue distributions. It ensures that both the oil and gas companies and mineral owners are adequately compensated for their interests and investments. Legal professionals and experts in the oil and gas industry play a significant role in drafting and reviewing these division orders to ensure their accuracy and adherence to applicable laws and regulations.