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.
New Mexico Division Orders
Category:
State:
Multi-State
Control #:
US-OG-789
Format:
Word;
Rich Text
Instant download
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How to fill out Division Orders?
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FAQ
Yes, it can be beneficial to sell your mineral rights for a fair price, even producing rights. First, sellers must be aware of the different stages of the production process. They must also know the value their minerals and royalties command in every development stage.
You may have noticed on your check stubs an ?owner interest? or ?net revenue interest? or a ?decimal interest?. The operator will then multiply your interest by the quantity of oil and gas produced and the current price to determine your oil and gas royalty payments.
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.
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.
Take, for example, a landowner who has 300 acres in a 500-acre production unit while signing an oil and gas lease of 15% royalty. Their decimal interest is calculated as follows: (300/500) × 0.15 equals 0.09, which represents their 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.
If there is more than one mineral owner, multiply the net revenue by the fractional interest of each owner to determine their respective royalty interest.
?To pay Lessor for gas (including casinghead gas) and all other substance covered hereby, a royalty of 3/16 of the proceeds realized by Lessee from the sale thereof.? This simply means the operator will pay a royalty of 3/16 of revenue generated from production on the property.