What is unitisation in oil and gas?

Unitisation in the oil and gas industry is historically a US concept and is commonly defined as 'the joint, co-ordinated operation of a petroleum reservoir by all the owners of rights in the separate tracts overlying the. reservoir'.

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Unit Agreement and Plan of Unitization

Unit Agreement and Plan of Unitization

Q: What is a declaration of pooling?

It also records a &quot;Declaration of Pooling&quot; or similarly named document in the land records office at the local Courthouse. The declaration shows the boundaries of the pooling unit and identifies all the landowners and amount of property each landowner actually has in the unit.

Category:

Oil Gas and Minerals - Pooling and Unitization

State:

Multi-State

Control #:

US-OG-738

Format:

Instant download

Description

This Agreement is entered into, between the parties subscribing, ratifying, or consenting to it. The Parties are the owners of working, royalty, or other oil and gas interests in the Unit Area subject to this Agreement.

The Mineral Leasing Act of February 25, 1920, 41 Stat. 437, as amended, 30 U.S.C., Secs. 181 et seq., authorizes Federal lessees and their representatives to unite with each other, or jointly or separately with others, in collectively adopting and operating a cooperative or unit plan of development or operation of all or any part of any oil or gas pool, field, or like area, for the purposes of more properly conserving the natural resources whenever determined and certified by the Secretary of the Interior of the United States, to be necessary or advisable in the public interest.

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FAQ

Unitization is the agreement to jointly operate an entire producing reservoir or a prospectively productive area of oil and/or gas. The entire unit area is operated as a single entity, without regard to lease boundaries, and allows for the maximum recovery of production from the reservoir.

As noted above, while pooling focuses on efficiently combining lands for the purpose of obtaining a drilling permit to drill a single well, unitization focuses on the combination of interests covering a larger area to facilitate development of all or part of a common source of supply (i.e. a field/reservoir).

Unitization is essentially grouped or bundled cargo, wrapped into packages and loaded onto or inside a bigger unit. These bigger units can then be handled by machines such as forklifts and cranes.The efficiency of cargo handling increases as heavier units can combine many smaller packages into one large package.

Unit Agreement means any agreement for the development or operation of all or any portion of the Leased Lands with other lands as a single unit without regard to separate ownership and for the allocation of costs and benefits on a basis as defined in such agreement.

Transitive verb. 1 : to form or convert into a unit. 2 : to divide into units the added cost of unitizing bulk products.

Unitisation in the oil and gas industry is historically a US concept and is commonly defined as 'the joint, co-ordinated operation of a petroleum reservoir by all the owners of rights in the separate tracts overlying the. reservoir'.

It also records a "Declaration of Pooling" or similarly named document in the land records office at the local Courthouse. The declaration shows the boundaries of the pooling unit and identifies all the landowners and amount of property each landowner actually has in the unit.