Maricopa Arizona Oil and Gas Division Order

• Category: Oil Gas and Minerals - Division and Transfer Orders
• State: Multi-State
• County: Maricopa
• 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. Maricopa Arizona Oil and Gas Division Order refers to a legal document issued by the regulatory authority in Maricopa, Arizona, governing the appropriate distribution of oil and gas revenues among multiple interest owners in a given unit or lease. This order acts as a set of guidelines ensuring fair and equitable distribution of financial proceeds, tracking production activity, and protecting the rights of all stakeholders involved in oil and gas operations. Keywords: 1. Maricopa, Arizona: Maricopa refers to a county in Arizona, known for its significant oil and gas reserves. 2. Oil and Gas Division: The division responsible for overseeing and regulating oil and gas activities, ensuring compliance with environmental, safety, and legal standards. 3. Division Order: A document issued by the regulatory authority that outlines the distribution of oil and gas revenues. 4. Unitization: The process of consolidating multiple leased areas into a single unit for efficient operation and profit-sharing. 5. Interest Owners: Individuals or entities that hold an ownership interest in a specific oil and gas well or lease. Types of Maricopa Arizona Oil and Gas Division Orders: 1. Producing Unit Order: This type of division order is issued when multiple well operators or leaseholders operate within the same unit. It outlines the ownership percentages and distribution of production revenues. 2. Pooling Order: Pooling order, or spacing order, is issued to address situations where the drilling and extraction activities extend beyond the property boundaries of a single lease. It serves to pool together multiple leased interests to ensure optimal resource recovery and fair allocation of proceeds. 3. Division Order Amendment: If there are any modifications, changes or updates required in an existing division order, an amendment is issued to reflect the revised terms and conditions. 4. Well Assignment Order: A well assignment order is issued when ownership interests change due to the sale, purchase, or transfer of an oil or gas well. It reflects the updated ownership distribution of revenues. By adhering to Maricopa Arizona Oil and Gas Division Orders, the regulatory authority ensures transparency, accuracy, and accountability in the distribution of oil and gas revenues, promoting a fair and efficient industry ecosystem in Maricopa, Arizona.

Maricopa Arizona Oil and Gas Division Order refers to a legal document issued by the regulatory authority in Maricopa, Arizona, governing the appropriate distribution of oil and gas revenues among multiple interest owners in a given unit or lease. This order acts as a set of guidelines ensuring fair and equitable distribution of financial proceeds, tracking production activity, and protecting the rights of all stakeholders involved in oil and gas operations. Keywords: 1. Maricopa, Arizona: Maricopa refers to a county in Arizona, known for its significant oil and gas reserves. 2. Oil and Gas Division: The division responsible for overseeing and regulating oil and gas activities, ensuring compliance with environmental, safety, and legal standards. 3. Division Order: A document issued by the regulatory authority that outlines the distribution of oil and gas revenues. 4. Unitization: The process of consolidating multiple leased areas into a single unit for efficient operation and profit-sharing. 5. Interest Owners: Individuals or entities that hold an ownership interest in a specific oil and gas well or lease. Types of Maricopa Arizona Oil and Gas Division Orders: 1. Producing Unit Order: This type of division order is issued when multiple well operators or leaseholders operate within the same unit. It outlines the ownership percentages and distribution of production revenues. 2. Pooling Order: Pooling order, or spacing order, is issued to address situations where the drilling and extraction activities extend beyond the property boundaries of a single lease. It serves to pool together multiple leased interests to ensure optimal resource recovery and fair allocation of proceeds. 3. Division Order Amendment: If there are any modifications, changes or updates required in an existing division order, an amendment is issued to reflect the revised terms and conditions. 4. Well Assignment Order: A well assignment order is issued when ownership interests change due to the sale, purchase, or transfer of an oil or gas well. It reflects the updated ownership distribution of revenues. By adhering to Maricopa Arizona Oil and Gas Division Orders, the regulatory authority ensures transparency, accuracy, and accountability in the distribution of oil and gas revenues, promoting a fair and efficient industry ecosystem in Maricopa, Arizona.