Can someone help me out. If the plat maps show our names with our acreage, from the ohio div of minerals, does that have any significance that we may be in the well. SORry, really dont understand everything yet. Still no div orders but It says well producing. thanks
I have mine right here in front of me. The division orders state the well name, operator, county and state and property description.
In those areas you have the total acreage of the unit and your parcel numbers and total acreage in the unit, using the formula 'parcel acres in unit divided by total acreage in the unit times royalty rate times fractional royalty interest ownership (if you only own a portion of the royalty as in sharing it with siblings) equals unit royalty interest.
Division orders are your chance to verify that all the information the producer is using to verify you royalty portion is accurate.
They are the final step in the long process before you receive a check. I am not aware of any situation where a royalty owner received a check without signing and returning the division orders.
I am in Ohio.
I believe that your state government has let its landowners down with laws that seem to either be not enforced or are much to the advantage of the producers.
I wonder if division orders are the same in Pennsylvania as they are here in that they are necessary in determining the accurate royalty payment your lease calls for.
I would absolutely make it a top priority to find out how accurate everything is with your royalty payments, some leases have restrictions on how long you can wait to alert the producers to an error and have them rectify it. And I guarantee you that if there is an error it wont be in your favor.
Most states have laws providing when royalties must be paid and the consequences (interest) when they aren't. Unfortunately, Ohio doesn't have such a law. You mineral owners need to get after your legislators and get them to pass such legislation. Is there a local NARO group?