Oakland Michigan Division Orders

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

Description

This form is used for division orders or purchaser information. Oakland Michigan Division Orders refer to legal documents that establish the distribution and allocation of proceeds from oil and gas production within specific areas in Oakland County, Michigan. These orders determine the percentage of revenue each mineral owner or leaseholder is entitled to, as well as the method of payment and other pertinent details. A Division Order typically includes essential information such as the name of the well or unit, the legal description of the property, the interest owners' names and addresses, the decimal interest or royalty percentage, and the effective date of the order. It serves as a binding agreement between the operators and the mineral owners, ensuring accurate and reliable distribution of proceeds. Keywords: Oakland Michigan, Division Orders, oil and gas production, proceeds, allocation, mineral owner, leaseholder, revenue, payment, legal description, interest owners, decimal interest, royalty percentage, effective date, binding agreement, operators, distribution. Types of Oakland Michigan Division Orders: 1. Pooling Division Order: Also known as Unit Division Order, this type establishes the distribution of revenue among multiple mineral owners within a production unit. In Oakland Michigan, these orders are particularly relevant in instances where multiple wells are developed and managed as a single unit. 2. Leasehold Division Order: This division order applies when there are specific lease agreements in place between the operator and the mineral owner. It outlines the revenue distribution based on the terms and conditions specified in the lease agreement. 3. Overriding Royalty Division Order: Oakland Michigan Division Orders may also include the provision for overriding royalties, which are additional interests in oil and gas production assigned to parties other than the mineral owners or leaseholders. This order determines the distribution of revenue for these overriding interests. 4. Non-Participating Royalty Division Order: A non-participating royalty interest (NPR) allows a specific party to receive a specified percentage of the proceeds from oil and gas production but without the right to participate in any subsequent exploration or development activities. This type of division order outlines the distribution of revenue for NPR holders. Keywords: Pooling Division Order, Unit Division Order, Leasehold Division Order, Overriding Royalty Division Order, Non-Participating Royalty Division Order, revenue distribution, production unit, lease agreement, overriding royalty interest, non-participating royalty interest, exploration, development activities.

Oakland Michigan Division Orders refer to legal documents that establish the distribution and allocation of proceeds from oil and gas production within specific areas in Oakland County, Michigan. These orders determine the percentage of revenue each mineral owner or leaseholder is entitled to, as well as the method of payment and other pertinent details. A Division Order typically includes essential information such as the name of the well or unit, the legal description of the property, the interest owners' names and addresses, the decimal interest or royalty percentage, and the effective date of the order. It serves as a binding agreement between the operators and the mineral owners, ensuring accurate and reliable distribution of proceeds. Keywords: Oakland Michigan, Division Orders, oil and gas production, proceeds, allocation, mineral owner, leaseholder, revenue, payment, legal description, interest owners, decimal interest, royalty percentage, effective date, binding agreement, operators, distribution. Types of Oakland Michigan Division Orders: 1. Pooling Division Order: Also known as Unit Division Order, this type establishes the distribution of revenue among multiple mineral owners within a production unit. In Oakland Michigan, these orders are particularly relevant in instances where multiple wells are developed and managed as a single unit. 2. Leasehold Division Order: This division order applies when there are specific lease agreements in place between the operator and the mineral owner. It outlines the revenue distribution based on the terms and conditions specified in the lease agreement. 3. Overriding Royalty Division Order: Oakland Michigan Division Orders may also include the provision for overriding royalties, which are additional interests in oil and gas production assigned to parties other than the mineral owners or leaseholders. This order determines the distribution of revenue for these overriding interests. 4. Non-Participating Royalty Division Order: A non-participating royalty interest (NPR) allows a specific party to receive a specified percentage of the proceeds from oil and gas production but without the right to participate in any subsequent exploration or development activities. This type of division order outlines the distribution of revenue for NPR holders. Keywords: Pooling Division Order, Unit Division Order, Leasehold Division Order, Overriding Royalty Division Order, Non-Participating Royalty Division Order, revenue distribution, production unit, lease agreement, overriding royalty interest, non-participating royalty interest, exploration, development activities.