Harris Texas Oil and Gas Division Order

• Category: Oil Gas and Minerals - Division and Transfer Orders
• State: Multi-State
• County: Harris
• 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. The Harris Texas Oil and Gas Division Order is a legal document that outlines the distribution of proceeds from oil and gas production among the various interest owners within a specific oil and gas lease or unit. It serves as a contract between the operator of the well or lease and the owners of the mineral rights and provides important information regarding ownership percentages, payment terms, and other details related to the distribution of revenues. Keywords: Harris Texas, Oil and Gas, Division Order, legal document, proceeds, production, interest owners, lease, unit, operator, mineral rights, ownership percentages, payment terms, revenues. There are different types of Harris Texas Oil and Gas Division Orders which may include: 1. Basic Division Order: This type of division order typically includes essential information such as the names and addresses of all owners, their proportional interest shares, and relevant property descriptions. It serves as a starting point for the revenue distribution process. 2. Modified Division Order: In some cases, certain modifications or amendments may be made to the basic division order. These modifications can address specific concerns or changes in ownership, royalty interest, or any other relevant details that require adjustments to the original division order. 3. Division Order Title Opinion: This type of division order is generated after a thorough title examination to ensure the accuracy of ownership information and address any potential title issues. It provides a legal opinion on the status of ownership and assists in preventing disputes or conflicting interests. 4. Supplemental Division Order: Supplemental division orders are issued when changes occur after the initial division order has been executed. These changes may include additions of new owners, adjustments to ownership percentages, or modifications related to payment terms. Supplemental division orders help ensure that all changes are properly documented and implemented in the revenue distribution process. It is important for all parties involved in oil and gas production in Harris Texas to understand the significance of the division order and to carefully review its terms. Compliance with the division order provisions is crucial to ensure fair and accurate distribution of revenues among the interest owners, thus minimizing misunderstandings and potential disputes.

The Harris Texas Oil and Gas Division Order is a legal document that outlines the distribution of proceeds from oil and gas production among the various interest owners within a specific oil and gas lease or unit. It serves as a contract between the operator of the well or lease and the owners of the mineral rights and provides important information regarding ownership percentages, payment terms, and other details related to the distribution of revenues. Keywords: Harris Texas, Oil and Gas, Division Order, legal document, proceeds, production, interest owners, lease, unit, operator, mineral rights, ownership percentages, payment terms, revenues. There are different types of Harris Texas Oil and Gas Division Orders which may include: 1. Basic Division Order: This type of division order typically includes essential information such as the names and addresses of all owners, their proportional interest shares, and relevant property descriptions. It serves as a starting point for the revenue distribution process. 2. Modified Division Order: In some cases, certain modifications or amendments may be made to the basic division order. These modifications can address specific concerns or changes in ownership, royalty interest, or any other relevant details that require adjustments to the original division order. 3. Division Order Title Opinion: This type of division order is generated after a thorough title examination to ensure the accuracy of ownership information and address any potential title issues. It provides a legal opinion on the status of ownership and assists in preventing disputes or conflicting interests. 4. Supplemental Division Order: Supplemental division orders are issued when changes occur after the initial division order has been executed. These changes may include additions of new owners, adjustments to ownership percentages, or modifications related to payment terms. Supplemental division orders help ensure that all changes are properly documented and implemented in the revenue distribution process. It is important for all parties involved in oil and gas production in Harris Texas to understand the significance of the division order and to carefully review its terms. Compliance with the division order provisions is crucial to ensure fair and accurate distribution of revenues among the interest owners, thus minimizing misunderstandings and potential disputes.