South Dakota Oil and Gas Division Order
Description
How to fill out Oil And Gas Division Order?
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FAQ
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 divided interest in property refers to the concept where multiple parties each own a portion of the rights to a property, but those portions are distinct and separate. This can occur in a variety of ways, depending on the specific property rights involved and the arrangements between the parties.
Almost all of the state's crude oil production is concentrated in the northwestern corner of the state, where Harding County produces most of South Dakota's crude oil and natural gas. Since the 1980s, the state's annual crude oil production has ranged between about 1 million and 2 million barrels per year.
A Division Order is an instrument which sets forth the proportional ownership in produced hydrocarbons, including crude oil, natural gas, and NGL's. Sometimes the Division Order is referred to as a division of interest.
South Dakota leads in mica production It also produces construction sand and gravel, crushed stone, dimension stone, feldspar, gemstones, gold, gypsum, industrial sand and gravel, lime, and silver. Iron ore mined is used for cement clinker.
The division of interest (DOI) specifies the owners involved in a particular production network or in a sub-object of a production network. It also specifies the interest type and the gross and net interest that each owner is entitled to.
What is a Divided Interest? A divided interest occurs when the owners of a working interest receive revenue and pay for expenses based on their ownership of specific acreage. They have no ownership of or responsibility for the revenues and expenses associated with adjacent acreage.
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.