Bronx New York Oil and Gas Division Order

• Category: Oil Gas and Minerals - Division and Transfer Orders
• State: Multi-State
• County: Bronx
• Control #: US-OG-323
• Format: Word; Rich Text

Description

This form is used to determine revenue payments and is issued to interest owners for a signature. The form includes the name of the interest owner, the interest for each interest owner, a legal description of the property, and the operator's name. Bronx New York Oil and Gas Division Order is a legal document that regulates the division of interests and payments among various mineral rights owners and leaseholders within the Bronx County, New York. It outlines the proper allocation of revenue derived from oil and gas production activities taking place within the region. This division order is significant in ensuring fair distribution of proceeds while maintaining transparency and accuracy in accounting. The Bronx New York Oil and Gas Division Order provides crucial details such as the names of mineral rights owners and leaseholders, their respective interest percentages, and the legal descriptions of the designated oil and gas fields or wells in the area. This order also specifies the calculation and distribution of royalties, often based on the volume of production or proceeds received from the sales of extracted resources. Different types of the Bronx New York Oil and Gas Division Order may include: 1. Production Division Order: This type of division order is issued when the oil and gas production activities commence, and it outlines the allocation and distribution of proceeds among the mineral rights owners and leaseholders as per their respective interests. 2. Amended Division Order: When changes occur in ownership or leased acreage, an amended division order is issued to update the information and ensure accurate revenue distribution among the affected parties. 3. Suspended Division Order: In some cases, disputes or uncertainties may arise regarding the ownership or interest percentages of certain mineral rights. In such instances, a suspended division order can be issued, temporarily halting revenue distribution until the matter is resolved. 4. Pooling Division Order: When the drilling of a well involves pooling or combining adjoining lands with different ownership, a pooling division order is prepared to specify the allocation and distribution of proceeds for the involved parties. It is important for individuals and companies involved in oil and gas operations in Bronx, New York, to understand and comply with the guidelines and provisions specified in the Bronx New York Oil and Gas Division Order to ensure equitable distribution of revenues and prevent any legal or financial complications.

Bronx New York Oil and Gas Division Order is a legal document that regulates the division of interests and payments among various mineral rights owners and leaseholders within the Bronx County, New York. It outlines the proper allocation of revenue derived from oil and gas production activities taking place within the region. This division order is significant in ensuring fair distribution of proceeds while maintaining transparency and accuracy in accounting. The Bronx New York Oil and Gas Division Order provides crucial details such as the names of mineral rights owners and leaseholders, their respective interest percentages, and the legal descriptions of the designated oil and gas fields or wells in the area. This order also specifies the calculation and distribution of royalties, often based on the volume of production or proceeds received from the sales of extracted resources. Different types of the Bronx New York Oil and Gas Division Order may include: 1. Production Division Order: This type of division order is issued when the oil and gas production activities commence, and it outlines the allocation and distribution of proceeds among the mineral rights owners and leaseholders as per their respective interests. 2. Amended Division Order: When changes occur in ownership or leased acreage, an amended division order is issued to update the information and ensure accurate revenue distribution among the affected parties. 3. Suspended Division Order: In some cases, disputes or uncertainties may arise regarding the ownership or interest percentages of certain mineral rights. In such instances, a suspended division order can be issued, temporarily halting revenue distribution until the matter is resolved. 4. Pooling Division Order: When the drilling of a well involves pooling or combining adjoining lands with different ownership, a pooling division order is prepared to specify the allocation and distribution of proceeds for the involved parties. It is important for individuals and companies involved in oil and gas operations in Bronx, New York, to understand and comply with the guidelines and provisions specified in the Bronx New York Oil and Gas Division Order to ensure equitable distribution of revenues and prevent any legal or financial complications.