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.
North Dakota Division Orders play a crucial role in the oil and gas industry by defining ownership rights and acting as legal contracts between mineral owners and oil companies. They specify the distribution of product revenues among multiple interest owners, ensuring fair compensation and detailed accounting of production. A North Dakota Division Order is a document that outlines the specific terms and conditions related to the distribution of royalties and payments from oil and gas production in North Dakota. It confirms the accuracy of the ownership interest calculations and provides instructions on how to distribute the proceeds to the appropriate parties. There are several types of North Dakota Division Orders, each serving a unique purpose: 1. Standard Division Order: This type of division order is the most common and is used for regular oil and gas production. It outlines the percentage interest of each owner in a specific well or leasehold, along with their respective addresses for payment. 2. Supplemental Division Order: Sometimes, updates or corrections need to be made to the original division order. A supplemental division order acts as an addendum or amendment to the existing agreement, providing revised information regarding ownership interests. 3. Pooling Division Order: When multiple owners decide to pool their resources and jointly develop a leasehold, a pooling division order is required. It establishes the relationship between the participating parties and outlines the percentage allocation of revenues from the pooled production. 4. Unitized Division Order: A unitized division order is necessary when a field or reservoir is shared by multiple leasehold owners. It governs the division of proceeds from the combined production, taking into account factors such as leasehold size, well performance, and production contribution. 5. Division Order Title Opinion: This type of division order is prepared by an attorney or landsman who reviews the ownership documents and conducts title examinations to ensure the accuracy of the ownership interests presented in the division order. In summary, North Dakota Division Orders are crucial legal documents in the oil and gas industry that establish ownership interests, outline revenue distribution, and serve as the basis for royalty payments. The different types, like Standard, Supplemental, Pooling, Unitized, and Division Order Title Opinion, cater to specific circumstances and ensure transparency and fairness in the distribution of oil and gas proceeds.
