What is a division of interest?

Division Of Interest (DOI) DOI is frequently-used as an umbrella term to capture the joint ownership and how responsibilities and rewards for a given oil & gas asset (i.e. well) are split. Who pays for what portion of the costs and who is entitled to the produced hydrocarbons are dictated by a well's DOI.

What is a natural gas division order?

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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Provisions Which May Be Added to a Division Or Transfer Order

Wake North Carolina Provisions Which May Be Added to a Division Or Transfer Order

Name: Wake North Carolina Provisions Which May Be Added to a Division Or Transfer Order
Brand: US Legal Forms
Rating: 4.76 (495 reviews)

Category:

Oil Gas and Minerals - Division and Transfer Orders

State:

Multi-State

County:

Wake

Control #:

US-OG-325

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These provisions, when added to a Division/Transfer Order, provide the disbursing company some protection in making payments in a manner that may not be consistent with record ownership.

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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.

Division Of Interest (DOI) DOI is frequently-used as an umbrella term to capture the joint ownership and how responsibilities and rewards for a given oil & gas asset (i.e. well) are split. Who pays for what portion of the costs and who is entitled to the produced hydrocarbons are dictated by a well's DOI.

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.

The decimal interest is calculated by dividing the number of acres the landowner has in the unit by the total number of acres in the unit, multiplied by the royalty percentage under the gas lease.

A Division Order is an agreement entered into between the operator (or the company purchasing the production from the operator) and the royalty owner, whereby they will agree on the decimal interest owned by the royalty owner in a producing well. See a sample Division Order.

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 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.

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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Find out everything you need to know about boating in Tennessee. Center to remain in an infant care center up to a maximum age of three years.So you have received a division order, and it says that ABC Oil Company will pay you for a . Use tax, at the Marine Police Division office in Montgomery. An application can be downloaded and filled out prior to registering at. In fact, it's not uncommon to have hundreds of parties owning an interest in a single well. Who Must Comply With the Hours-of-Service Regulations? Envelope, upon blank forms provided in the Project Manual. The North Carolina State WIC office has removed these products from the current approved product list. Effort and provided important input in the development of this document.

Wake North Carolina Provisions Which May Be Added to a Division Or Transfer Order

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