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REQUEST FOR CHANGE OF OWNER OHIO DEPARTMENT OF NATURAL RESOURCES DIVISION OF OIL. GAS. FOUNTAIN SQ. BLDG. A. COLUMBUS. OH, 43224 2. Creek Type of Request If Individual Transfer indicate API number:
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How to fill out division of oil:

01
Gather all necessary documents, including lease agreements, production reports, and ownership records.
02
Determine the total amount of oil produced within a specific time period.
03
Calculate the percentage of oil production that belongs to each owner or party involved.
04
Determine the price of oil per barrel or unit.
05
Multiply the total amount of oil produced by the percentage owned by each party to calculate their share.
06
Multiply the share of each party by the price of oil to calculate the value of their portion.
07
Complete the necessary forms or documents provided by the governing body or company responsible for the division of oil.
08
Double-check all calculations and ensure accuracy before submitting the division forms.

Who needs division of oil?

01
Individuals or companies who own oil-producing properties or leases.
02
Joint ventures or partnerships involved in oil production.
03
Government regulatory bodies or organizations responsible for regulating the oil industry.
04
Oil and gas companies or operators responsible for drilling and extraction.
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Division of oil is the process of determining how oil production or revenue should be divided among multiple parties, such as owners of mineral rights or working interest owners.
Any party involved in the production of oil, such as operators, owners of mineral rights, or working interest owners, may be required to file a division of oil.
To fill out a division of oil, parties must provide information on production volumes, revenue generated, and ownership interests, among other details, typically using a standardized form or software program.
The purpose of division of oil is to fairly and accurately allocate the production or revenue from an oil well or lease among all parties with a legal interest in the oil.
Information commonly reported on a division of oil includes well or lease name and location, production volumes, revenue generated, ownership interests, and any deductions or adjustments to be made.
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