This lease rider form may be used when you are involved in a lease transaction, and have made the decision to utilize the form of Oil and Gas Lease presented to you by the Lessee, and you want to include additional provisions to that Lease form to address specific concerns you may have, or place limitations on the rights granted the Lessee in the “standard” lease form.
Kansas Division Orders
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State:
Multi-State
Control #:
US-OG-789
Format:
Word;
Rich Text
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How to fill out Division Orders?
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Kansas Frequently Asked Questions QuestionsAnswersHow many active producers are there in Kansas?There are currently 408 active producers in the state of Kansas.What is the average depth an oil or gas well is drilled in Kansas?2,633 feet is the average depth of a well in Kansas.4 more rows
The average depth of a Kansas well today is approximately 3,500 feet. The cost of drilling and equipping an average 3,500-4,500 foot well can be approximately $450,000. At approximately $180,000, the cost of a 3,500-4,500 foot dry hole is considerably less than a fully equipped producing well.
A financial consultant, investment manager, or investment broker will be able to look at your portfolio of assets and help you make an informed decision on how much you should be investing in an oil well. Investing in an oil well is usually a large investment ranging from $100,000 to over 1 million dollars USD.
All in all, the average Permian well costs between $6.6 - 8.1MM with total costs/1,000ft. between $1.1MM and $1.4MM. On income statements, drilling and completion expenses are listed under capital expenditures.
The most common way is through a will or estate plan. When the mineral rights owner dies, their heirs will become the new owners. Another way to transfer mineral rights is through a lease. If the mineral rights are leased to a third party, the new owner will need approval from the current lessee to claim them.
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 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.
Cost depend on the depth and complexity of the well. Modern horizontal well drilling costs can easily exceed $4,000,000 just in the drilling phase. Without drilling complications these wells generally take about 3 weeks for the drilling phase.