The Delaware Division Order is a legal document that outlines the ownership interests and distribution of revenue among the mineral rights owners in a specific oil or gas field located within the state of Delaware. It acts as a binding agreement between the operators of the oil or gas well and the various mineral rights owners. The Delaware Division Order contains essential information such as the identity of the operator, the legal description of the well or lease, the names and addresses of the mineral rights owners, and their respective ownership interests in the well. It also includes details about the payment terms and procedures for the distribution of revenue generated by the production of oil or gas. The purpose of the Delaware Division Order is to establish clear guidelines for the calculation and allocation of revenue among the mineral rights owners. It ensures transparency and fairness in the distribution process, providing a legal framework to resolve any disputes or discrepancies that may arise. There are different types of Delaware Division Orders commonly used in the industry, categorized based on the type of ownership and interests involved. Some of these types include: 1. Overriding Royalty Interest (ORRIS): This type of division order refers to a percentage or fractional interest that is granted to an individual or entity as a royalty from the lease, typically derived from the production revenue. 2. Working Interest (WI): A division order with a working interest refers to a percentage or fractional ownership interest in the oil or gas well that carries the responsibility of bearing costs associated with the operation and development of the well. 3. Net Revenue Interest (NRI): This type of division order represents the proportionate share or percentage ownership of the revenue generated from the sale of oil or gas after deducting all applicable costs, royalties, and other burdens. 4. Non-Participating Royalty Interest (NPR): A division order with an NPR entitles the owner to a specified percentage or fractional interest in the royalty derived from the production of oil or gas while not carrying any responsibility for operating or development expenses. It is crucial for both the operators and mineral rights owners to carefully review and understand the terms and provisions mentioned in the Delaware Division Order before signing it, ensuring accurate distribution of revenue and avoiding potential conflicts in the future.
Delaware Division Order
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The EIN is issued by the Internal Revenue Service (IRS). You can find your state file number in the upper left or upper right hand side of your certificate of incorporation or certification of formation.
The Delaware state file number is the number that the state of Delaware issues to each new company at the time of formation. It is formatted with seven numbers; for example, 1234567. Each new Delaware company will be one digit higher than the company before it.
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