King Washington Division Orders

• Category: Oil Gas and Minerals - Landman
• State: Multi-State
• County: King
• Control #: US-OG-1205
• Format: Word; Rich Text

Description

This form is used for division orders or purchaser information. King Washington Division Orders are legal documents that outline the terms, conditions, and obligations between mineral owners and oil and gas operators. These orders establish the ownership rights and revenue allocation for oil and gas production in a specific geographical area. The King Washington Division Orders typically include key information such as the property description, lease name, effective date, and the names of both the mineral owners and the operators involved. They also provide the legal description of the land where the oil and gas production is taking place. There are different types of King Washington Division Orders, based on various factors such as the nature of the ownership, the type of mineral agreement, and the specific regulations in place. Some common types include: 1. Standard King Washington Division Orders: These are the most common type and are used when the operators and mineral owners agree to the terms and conditions set forth in the standard order. It establishes the percentage of interest each owner has in the production revenue. 2. Modified King Washington Division Orders: These orders are used when the parties involved negotiate specific modifications or alterations to the standard order. These modifications can include changes in revenue allocation, deductions, or additional clauses to protect the interests of the mineral owners. 3. Shut-in Royalty King Washington Division Orders: These orders come into play when the oil and gas production from a particular well is temporarily halted, often due to technical issues, market conditions, or force majeure events. They outline the payment obligations and terms during the shut-in period. 4. Unitization King Washington Division Orders: These orders are used when multiple tracts of land are combined to form a production unit in order to improve operational efficiency and maximize resource recovery. Unitization orders address the allocation of production and revenue among the participating owners. In summary, King Washington Division Orders are crucial legal documents that establish the rights, responsibilities, and revenue allocation for oil and gas production. They provide clarity and transparency for all parties involved and ensure fair distribution of proceeds from the production activities.

King Washington Division Orders are legal documents that outline the terms, conditions, and obligations between mineral owners and oil and gas operators. These orders establish the ownership rights and revenue allocation for oil and gas production in a specific geographical area. The King Washington Division Orders typically include key information such as the property description, lease name, effective date, and the names of both the mineral owners and the operators involved. They also provide the legal description of the land where the oil and gas production is taking place. There are different types of King Washington Division Orders, based on various factors such as the nature of the ownership, the type of mineral agreement, and the specific regulations in place. Some common types include: 1. Standard King Washington Division Orders: These are the most common type and are used when the operators and mineral owners agree to the terms and conditions set forth in the standard order. It establishes the percentage of interest each owner has in the production revenue. 2. Modified King Washington Division Orders: These orders are used when the parties involved negotiate specific modifications or alterations to the standard order. These modifications can include changes in revenue allocation, deductions, or additional clauses to protect the interests of the mineral owners. 3. Shut-in Royalty King Washington Division Orders: These orders come into play when the oil and gas production from a particular well is temporarily halted, often due to technical issues, market conditions, or force majeure events. They outline the payment obligations and terms during the shut-in period. 4. Unitization King Washington Division Orders: These orders are used when multiple tracts of land are combined to form a production unit in order to improve operational efficiency and maximize resource recovery. Unitization orders address the allocation of production and revenue among the participating owners. In summary, King Washington Division Orders are crucial legal documents that establish the rights, responsibilities, and revenue allocation for oil and gas production. They provide clarity and transparency for all parties involved and ensure fair distribution of proceeds from the production activities.