§ 15-74-101 - Information required in division order or declaration of interest in gas. - Arkansas Statutes

15-74-101. Information required in division order or declaration of interest in gas.

(a) All division orders or any declaration of interest in gas between the purchaser of gas production and the owner of the production in Arkansas or between the purchasers of gas production or the owner of the production and the royalty interest owners in Arkansas shall contain the following information on the first page:

(1) The name and address of the owner of royalties;

(2) A space for the owner's social security number or tax identification number and the other information needed to meet the requirements of the Internal Revenue Service or other governmental agencies and a space for the owner's signature;

(3) The acreage under which the royalty owner has an interest and the fractional or decimal interest owned by the royalty owner in the pool;

(4) The total amount of the net mineral acres in the area subject to the division order; and

(5) The effective date of the division order.

(b) The terms of this section shall not be applicable to any producing unit or well that produces liquid hydrocarbons only, or liquid hydrocarbons associated with the production of gas, or gas produced associated with the production of liquid hydrocarbons.