Nassau New York Division Order is a legal document that outlines ownership interests and revenue distribution within a specific geographic area in Nassau County, New York. It is commonly used in the oil and gas industry to manage the allocation of royalties and production proceeds among various mineral rights owners. The primary purpose of a Nassau New York Division Order is to establish and verify the ownership percentage for each party entitled to receive payments from the production of oil and gas. It specifies the name and address of the operators, lease operators, and the mineral rights owners, along with their corresponding ownership interests. Keywords: Nassau New York Division Order, ownership interests, revenue distribution, Nassau County, New York, oil and gas industry, royalties, production proceeds, mineral rights owners, payments, operators, lease operators. There are different types of Nassau New York Division Orders, including: 1. Standard Division Order: This is the most common type and is used to allocate royalties and revenues among multiple mineral rights owners. It states the specifics of the ownership interests and the respective proportions of each party. 2. Modified Division Order: In cases where a specific agreement has been made between the parties involved, a modified division order may be issued. It reflects any changes or modifications to the standard division order based on individual agreements reached between the parties. 3. Unitized Division Order: In situations where a group of operating companies or oil and gas operators collectively develops a field or reserves, an unitized division order is utilized. It determines the allocation of royalties and revenues based on the agreed-upon unitization agreement. Keywords: Standard Division Order, Modified Division Order, Unitized Division Order, royalties, revenues, mineral rights owners, agreement, oil and gas operators, field, reserves, unitization agreement.
Nassau New York Division Order
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