Communitization Agreement With Gas
State:
Multi-State
Control #:
US-OG-736
Format:
Word;
Rich Text
Instant download
Description
The Communitization Agreement with gas serves as a critical legal document facilitating the pooling of oil and gas interests across various tracts in a designated area. This Agreement enables parties to collaborate in the development and production of gas when separate tracts cannot be independently developed due to spatial constraints. Key features include the establishment of a communitized area depicted in an accompanying Plat, designations for operators, and systematic royalty payments based on acreage interests. It outlines operational responsibilities, including reporting obligations to the Secretary of the Interior and conditions for maintaining compliance with federal and state laws. The Agreement remains effective for two years or until production ceases, with terms binding on successors and assigns. This form is particularly useful for attorneys, partners, and owners engaged in oil and gas ventures, as it provides a clear framework for collaboration while addressing legal requirements and operational guidelines. Additionally, paralegals and legal assistants can utilize this Agreement to ensure compliance and effective communication among all parties involved.
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