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.

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Ratification and Rental Division Order of Original Lessor and Lessee

Broward Florida Ratification and Rental Division Order of Original Lessor and Lessee

Name: Broward Florida Ratification and Rental Division Order of Original Lessor and Lessee
Brand: US Legal Forms
Rating: 4.81 (413 reviews)

Category:

Oil Gas and Minerals - Division and Transfer Orders

State:

Multi-State

County:

Broward

Control #:

US-OG-326

Format:

Instant download

Description

This form is used when Lessor desires to adopt, ratify, and confirm the Lease insofar as it covers Lessor's rights, title, and interests in the Lands and to set out the division of interest as to any rental payments which may be made pursuant to the terms of the Lease.

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FAQ

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.

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.

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.

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.

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.

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.

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301. Final orders entered after August 1997 are reported in a subsequent publication.Pretrial Order ¶ 4; Direct Testimony of Denis Chira ¶ 2. Investment sector, and to phase out involvement in lease financing. For the Public Transportation Division to continue providing quality service to Flagler.

To reduce the level of litigation and the time associated with litigation (particularly environmental litigation). For the Department to improve its overall communication with and collaboration with its local partners. For the Department to develop more effective and efficient internal financial analysis, particularly as it pertains to estimating future benefits. For the Department to begin working with the Regional Transportation Authority on implementing its recommendations for a regional transportation plan. For the Department to begin work with the Florida Department of Transportation on developing a comprehensive regional transportation plan. For the Department to take appropriate actions to assist private developers as they seek to develop their projects within the context of a comprehensive regional transportation plan. For State Law Enforcement to implement changes in its operational policies that will increase safety for its members.

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Broward Florida Ratification and Rental Division Order of Original Lessor and Lessee

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