What is a division order with oil and gas lease?

A Division Order is an instrument which sets forth the proportional ownership in produced hydrocarbons, including crude oil, natural gas, and NGL's. Sometimes the Division Order is referred to as a division of interest. More often than not, a single well or lease will have multiple owners.

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Oil and Gas Transfer Order

King Washington Oil and Gas Transfer Order

Name: King Washington Oil and Gas Transfer Order
Brand: US Legal Forms
Rating: 4.62 (266 reviews)

Category:

Oil Gas and Minerals - Division and Transfer Orders

State:

Multi-State

County:

King

Control #:

US-OG-324

Format:

Instant download

Description

This form is used to commence revenue payments when ownership is being transferred between parties. The Transfer Order includes the name of each interest owner, the interest for each interest owner, a legal description of the property, and the operator's name.

How to fill out King Washington Oil And Gas Transfer Order?

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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.

A Transfer Order is an authorization for payment by the owner directing the operator to pay the owner in accordance with the decimal interest set out in the Transfer Order at the address reflected on the Transfer Order.

Average Oil Royalty Payment For Oil Or Gas Lease The federal government charges oil and gas companies a royalty on hydrocarbon resources extracted from public lands. The standard Federal royalty payment was 12.5%, or a 1/8th royalty.

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 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.

If you want to transfer the rights to these minerals to another party, you can do so in a variety of ways: by deed, will, or lease. Before you transfer mineral rights, you should confirm that you own the rights that you seek to transfer.

A Division Order is an instrument which sets forth the proportional ownership in produced hydrocarbons, including crude oil, natural gas, and NGL's. Sometimes the Division Order is referred to as a division of interest. More often than not, a single well or lease will have multiple owners.

More info

Regulations at 43 CFR 3106, and 43 CFR 3135 for lands in the National Petroleum Reserve –. Alaska (NPR-A), govern the filing of transfers.Fill out this form to take advantage of this great offer. Find out what you can and cannot bring to a household hazardous waste disposal location in King County, WA. Kroger, for example, allows 35 gallons of discounted gas per fillup, while Fuel Rewards only allows 20 gallons. In the 95 years since the Mineral Leasing Act first set the federal royalty rate for oil and gas at 12. This article is about the oil company mostly in the Americas. For similarly named companies, see Chevron. You can remove it from your cart at any time.

King Washington Oil and Gas Transfer Order

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