Alabama Royalty Owner's Supplement to Purchaser's Division order or Transfer order
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How to fill out Royalty Owner's Supplement To Purchaser's Division Order Or Transfer Order?
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FAQ
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.
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 ing 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 an instrument that records an owner's interest in a specific well. It should include the name of the well, the well number, interest type, and your decimal interest.
To put it another way the formula is: lessor's acres in unit ÷ total number of acres in unit × lessor's ownership interest × lessor's royalty percentage = lessor's decimal interest.
A Division order is an instrument that records an owner's interest in a specific well. It should include the name of the well, the well number, interest type, and your decimal interest.
The royalty percentage is usually 12.5% to 15% but can change based on regional regulations or negotiations. Types of Leases: There are different types of oil and gas leases, and they affect royalty calculations differently.
A division order analyst works for a petroleum company and oversees company records. As a division order analyst, you establish, prepare, review, approve, and maintain documents regarding production and land ownership for royalty owners. You generally work as a part of the land department at an oil company.