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.

US Legal Forms
Localized Forms
Nevada
Clark
Ratification and Rental Division Order of Original Lessor and Lessee

Clark Nevada Ratification and Rental Division Order of Original Lessor and Lessee

Name: Clark Nevada 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:

Clark

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.

Partnership Agreement for Development of R...

View this form

Agreement Regarding the Receipt of Confide...

View this form

Consent or Authorization to Cremate Remains

View this form

Publishing Contract Including Right to Lic...

View this form

Complaint for Conversion of Personal Property

View this form

Referral Agreement for Sale of Automobile

View this form

Petition for Dissolution of Marriage with ...

View this form

Agreement for Sale of all Assets in Comput...

View this form

Purchase Order for Employee

View this form

A07 State's Notice to Appear

View this form

How to fill out Clark Nevada Ratification And Rental Division Order Of Original Lessor And Lessee?

If you need to find a reliable legal form supplier to get the Clark Ratification and Rental Division Order of Original Lessor and Lessee, look no further than US Legal Forms. Whether you need to start your LLC business or manage your belongings distribution, we got you covered. You don't need to be knowledgeable about in law to find and download the appropriate template.

You can search from more than 85,000 forms categorized by state/county and case.
The intuitive interface, number of learning resources, and dedicated support make it simple to find and execute various papers.
US Legal Forms is a trusted service providing legal forms to millions of customers since 1997.

Simply type to look for or browse Clark Ratification and Rental Division Order of Original Lessor and Lessee, either by a keyword or by the state/county the document is created for. After finding the needed template, you can log in and download it or save it in the My Forms tab.

Don't have an account? It's easy to start! Simply find the Clark Ratification and Rental Division Order of Original Lessor and Lessee template and check the form's preview and description (if available). If you're comfortable with the template’s terminology, go ahead and click Buy now. Register an account and choose a subscription plan. The template will be instantly ready for download once the payment is completed. Now you can execute the form.

Handling your law-related matters doesn’t have to be pricey or time-consuming. US Legal Forms is here to demonstrate it. Our rich variety of legal forms makes this experience less costly and more affordable. Create your first business, organize your advance care planning, create a real estate agreement, or execute the Clark Ratification and Rental Division Order of Original Lessor and Lessee - all from the convenience of your home.

Form Rating

4.81

Satisfied(413)

Form popularity

FAQ

A ratified contract must be signed by the buyer, seller, lender (if applicable), real estate agent (if applicable), and any other parties named on the document, such as witnesses. It becomes valid once all parties agree on sale terms, including price and closing date; however, this varies from state to state.

To ratify a lease means that the landowner and oil & gas producer, as current lessor and lessee of the land, agree (or re-agree) to the terms of the existing lease.

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 terms of the oil and gas industry, ratification of a lease is the term for requesting acceptance of an existing lease agreement, with or without changes, from landowners who have purchased parcels to which the original leaseholder gave permission to drill and produce. Leases can last for decades.

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.

Ratify means to approve or enact a legally binding act that would not otherwise be binding in the absence of such approval. In the constitutional context, nations may ratify an amendment to an existing or adoption of a new constitution.

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.

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.

Interesting Questions

More info

Lessor has a Possibility of Reverter. II The Oil and Gas Lease.Acceptance of rent after notice to vacate defeats eviction. Interest in the lease to Petroleum Corporation on May 15, 2008. 2 Congress, first in. Pursuant to Session Law 2013365 SECTION 2. (c), the North Carolina Mining and Energy. Example, there are transactions in- to be able to complete the sale and volving (1) air space, (2) coal, miner- get his money out of the property. The seller's agent is responsible for having the seller fill out the disclosure statement. Meeting, was out of the City also.

Clark Nevada Ratification and Rental Division Order of Original Lessor and Lessee

Description

Related forms

Viewed forms

How to fill out Clark Nevada Ratification And Rental Division Order Of Original Lessor And Lessee?

Show more info

Form Rating

Form popularity

FAQ

What makes a contract ratified?

What does ratification of a lease mean?

What is the purpose of a division order?

What is the purpose of a ratification of oil and gas lease?

Is a division order required in Texas?

What does ratification mean in a contract?

What is the division order?

What is a division of interest?

How do you calculate order interest in division?

Interesting Questions

What is Clark Ratification?

Why is Clark Ratification important?

What is the Rental Division Order of Original Lessor and Lessee?

What does the Rental Division Order include?

How does Clark Ratification affect the Rental Division Order?

What happens if the Clark Ratification process is not followed?

More info

Trusted and secure by over 3 million people of the world’s leading companies