Travis Texas Oil and Gas Division Order

Name: Travis Texas Oil and Gas Division Order
Brand: US Legal Forms
Rating: 4.85 (219 reviews)

Category:

Oil Gas and Minerals - Division and Transfer Orders

State:

Multi-State

County:

Travis

Control #:

US-OG-323

Format:

Instant download

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. Travis Texas Oil and Gas Division Order is a legal document that serves as a detailed description and contract between mineral owners and oil and gas companies operating within Travis County, Texas. This document outlines the specific terms and conditions regarding the distribution and payment of oil and gas royalties to the mineral owners. The Travis Texas Oil and Gas Division Order is crucial for establishing proper ownership rights and responsibilities for both parties involved. It provides a transparent framework to ensure fair and accurate distribution of proceeds generated from the production of oil and gas resources in Travis County. Key elements covered in the Travis Texas Oil and Gas Division Order may include: 1. Ownership Identification: The document includes the identification of the mineral owners, their proportionate ownership share, and details for contact purposes. 2. Legal Description: It includes a detailed legal description of the property where oil and gas production is taking place. This description typically includes information such as section, township, and range numbers. 3. Royalty Interests: The document specifies the percentage or fraction of royalties that the mineral owners are entitled to receive from the production. This portion is typically agreed upon during the negotiation stage. 4. Payment Terms: The Division Order also outlines the specific payment terms, such as the frequency of payments (monthly, quarterly), the method of payment, and the date by which the payments should be expected. 5. Deductions and Costs: The document may address any deductions or costs that may be applicable to the mineral owners' share of royalties. This could include costs associated with transportation, processing, or marketing of oil and gas resources. Different types of Travis Texas Oil and Gas Division Orders can vary based on the specific terms and agreements negotiated between mineral owners and oil and gas companies. Some variations may include: 1. Standard Division Order: This is the most common type of Division Order that outlines the general terms and conditions for royalty payments, ownership identification, and legal descriptions. 2. Modified Division Order: In some cases, mineral owners may negotiate modifications to the standard Division Order to protect their interests or address unique circumstances. 3. Pooling Division Order: If multiple properties or owners are pooled together to form a unit, a pooling Division Order may be used to establish how royalties will be distributed among the participants. 4. Unitization Division Order: When multiple leaseholds are grouped together into a unit, typically for larger projects, an unitization Division Order may be created to outline the terms and conditions for royalties distribution. In conclusion, the Travis Texas Oil and Gas Division Order is a critical legal document that outlines the specifics of royalty distribution, payment terms, and ownership rights between mineral owners and oil and gas companies operating in Travis County, Texas. The document ensures transparency, fairness, and compliance with legal regulations in the oil and gas industry.

Travis Texas Oil and Gas Division Order is a legal document that serves as a detailed description and contract between mineral owners and oil and gas companies operating within Travis County, Texas. This document outlines the specific terms and conditions regarding the distribution and payment of oil and gas royalties to the mineral owners. The Travis Texas Oil and Gas Division Order is crucial for establishing proper ownership rights and responsibilities for both parties involved. It provides a transparent framework to ensure fair and accurate distribution of proceeds generated from the production of oil and gas resources in Travis County. Key elements covered in the Travis Texas Oil and Gas Division Order may include: 1. Ownership Identification: The document includes the identification of the mineral owners, their proportionate ownership share, and details for contact purposes. 2. Legal Description: It includes a detailed legal description of the property where oil and gas production is taking place. This description typically includes information such as section, township, and range numbers. 3. Royalty Interests: The document specifies the percentage or fraction of royalties that the mineral owners are entitled to receive from the production. This portion is typically agreed upon during the negotiation stage. 4. Payment Terms: The Division Order also outlines the specific payment terms, such as the frequency of payments (monthly, quarterly), the method of payment, and the date by which the payments should be expected. 5. Deductions and Costs: The document may address any deductions or costs that may be applicable to the mineral owners' share of royalties. This could include costs associated with transportation, processing, or marketing of oil and gas resources. Different types of Travis Texas Oil and Gas Division Orders can vary based on the specific terms and agreements negotiated between mineral owners and oil and gas companies. Some variations may include: 1. Standard Division Order: This is the most common type of Division Order that outlines the general terms and conditions for royalty payments, ownership identification, and legal descriptions. 2. Modified Division Order: In some cases, mineral owners may negotiate modifications to the standard Division Order to protect their interests or address unique circumstances. 3. Pooling Division Order: If multiple properties or owners are pooled together to form a unit, a pooling Division Order may be used to establish how royalties will be distributed among the participants. 4. Unitization Division Order: When multiple leaseholds are grouped together into a unit, typically for larger projects, an unitization Division Order may be created to outline the terms and conditions for royalties distribution. In conclusion, the Travis Texas Oil and Gas Division Order is a critical legal document that outlines the specifics of royalty distribution, payment terms, and ownership rights between mineral owners and oil and gas companies operating in Travis County, Texas. The document ensures transparency, fairness, and compliance with legal regulations in the oil and gas industry.

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FAQ

The purpose of a division order is to protect the company paying the royalty (payor) from double liability. If you sign a division order and it turns out that you should have been paid a larger interest than shown on the division order, the company is protected as long as it paid according to the division order.

In Texas, courts have held that division orders are executed without consideration, but that they are an enforceable agreement until they are revoked. A division order can be revoked at any time by either party, after which it has no further effect.

Your job as a Division Order Analyst is to determine each owner's share, and distribute checks accordingly. You may work for only one company, keeping detailed records about the people who own the company's equipment and resources.

A payor is legally entitled to require that you sign a division order correctly setting forth your interest as a condition to payment. To understand division orders, it is helpful to understand how exploration companies handle royalty payments.

Mineral rights can be divided by specific mineral commodities. For example, one company can own the mineral rights to coal, while another company owns the oil and gas rights. Consequently, it is important to know which minerals are included in a mineral deed. Some deeds specify that all minerals are included.

A division order is a contract between you and the operator (an oil and gas company). Typically, receiving a division order means that the operator is about to drill, or that the operator has already drilled a well and your minerals are producing.

Content. A division order is a record of your interest in a specific well. It contains your decimal interest, interest type, well number and well name. Division orders are issued to all that own an interest in a specific well after that well has achieved first sales of either oil or gas.

A division order is a record of your interest in a specific well. It contains your decimal interest, interest type, well number and well name. Division orders are issued to all that own an interest in a specific well after that well has achieved first sales of either oil or gas.

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Apache Corporation is an oil and gas exploration and production company with operations in the United States, Egypt and the United Kingdo. Application for MOBILE FOOD VENDOR Permit.Onshore. A judge ruled that the Interior Department must consider the climate effects of oil drilling in the Gulf of Mexico before awarding leases. The pressure of tighter oil and gas prices, we can see the sun coming up over the horizon and a new standard beginning to take place. An oil company, under many circumstances, is entitled to withhold royalty payments until it receives a signed division order. There are exceptions, however. When a well begins producing oil or gas, the ownership for each owner of an interest in the well is determined. Railroad Commission of Texas SWR 36: HYDROGEN SULFIDE (H2S) Travis Baer, EIT Engineering Specialist San Antonio District Office - Oil and Gas Division. The only thing certain in Alberta right now is that oil and gas revenues are surging.

As the report points out, the risks from the environmental effects of oil and gas development are compounded for industries located near oil or gas fields. A study in Canada that looked at the health effects of environmental exposure to methane released from oil and gas production concluded that the risk of injury or illness may be greater than from industrial exposure to hazardous chemicals but that there is insufficient data on individual exposure to methane and no comprehensive health surveillance system is in place. The risks posed to the human environment from oil and gas development are not limited to the oil and gas industry. In fact, the study also examined the effects of industry-related contaminants, such as heavy metals, and found that they can have long-lasting, health-related impacts. This problem calls for a more comprehensive study of the environment's impact on Alberta's economy.

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Travis Texas Oil and Gas Division Order

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