The Mississippi Oil and Gas Division Order is a legal document issued by the Mississippi Oil and Gas Board, which governs the allocation and distribution of proceeds from the production and sale of oil and gas in the state of Mississippi. It ensures that all parties involved in the production and sale of oil and gas receive their fair share of the profits. The Division Order contains relevant information regarding the ownership interests, royalty interests, and working interests of the various parties involved in the drilling, exploration, and production of oil and gas. It serves as a binding agreement between the mineral owners and the operators, outlining the terms and conditions of revenue distribution. Some essential details found in a Mississippi Oil and Gas Division Order include the legal descriptions and identification numbers of the oil and gas leases or units, the names and addresses of the operators and royalty owners, as well as the specific location and production details of the well. Additionally, the Division Order specifies the decimal interest or proportionate share of oil and gas revenues that each party is entitled to receive. The decimal interest is calculated based on factors such as the size of the ownership interest, royalty percentage, working interest, and any applicable costs or deductions. In Mississippi, there are different types of Oil and Gas Division Orders that cater to specific scenarios or circumstances. These can include: 1. Individual Division Order: This type of division order is used when a single individual or entity owns the oil and gas rights and decides to lease them to an operator for production. 2. Unit Division Order: In cases where multiple mineral owners have pooled their interests together to form a unit for the purpose of enhanced oil and gas recovery, a unit division order is used. It ensures equitable distribution of revenues to all participating parties. 3. Working Interest Division Order: A working interest division order is applicable when the operator of the well also holds a working interest, in addition to the mineral owners. It outlines the revenue shares between the operator and the mineral owners involved. It is important for both operators and mineral owners to carefully review and understand the terms stated in the Mississippi Oil and Gas Division Order before signing it. Any discrepancies or errors in the document can lead to disputes and hinder the smooth operation and revenue distribution of oil and gas fields in Mississippi.
Mississippi Oil and Gas Division Order
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How to fill out Oil And Gas Division Order?
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As a mineral rights value rule of thumb, the 3X cash flow method is often used. To calculate mineral rights value, multiply the 12-month trailing cash flow by 3. For a property with royalty rights, a 5X multiple provides a more accurate valuation (stout.com).
Conduct a title deed search at the county records office to find the owner history in the title deed. Follow the history of the property through the chain of owners. This can tell you whether the property or land was ever owned by an oil and gas company.
Mississippi statewide summary oil and gas data that goes back to 1946 and contains information on the 34,815 wells that have been drilled in the state since that time. Mississippi is ranked #13 in the US based on Barrels of Oil Equivalent (BOE) produced in Jun 2023.
To determine if you own the mineral rights on a parcel, you will first need to check the deed. The mineral rights may have been severed from the surface at some point in time. If your deed does not list this information, you will need to contact the County Clerk in the county where your minerals are located.
You can hire a geologist or land surveyor to help you determine if there's something of value on your land. You can also look at mineral rights listings to see if your property has separate mineral rights for sale.
Mineral rights can expire if the owner does not renew them or if they go unclaimed for a certain period of time. Mineral rights can also be sold, fractionalized, or transferred through gifting or inheritance.