This form is used in the event any part to this Agreement elects not to participate in a Horizontal Exploratory Well, the non-participating party shall, on commencement of operations for the well, relinquish to the participating party one hundred percent (100%) of its rights, title, and interests in and to that portion of the Contract Area included within the Drilling Unit for the well and one hundred percent (100%) of the party’s rights, title, and interests in and to that portion of the Contract Area.
Alaska Relinquishment Provision - Horizontal Well
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Multi-State
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US-OG-718
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Word;
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How to fill out Relinquishment Provision - Horizontal Well?
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The Biden administration has approved the Willow Project, a major oil drilling scheme in Alaska. Here are some ways to voice your opposition to the plan. Write the White House. ... Contact advocacy groups. ... Get in touch with your local representatives. ... Research the project and its potential impacts. ... Use social media.
The oil and gas industry has repeatedly failed to prevent or contain disastrous oil spills on Alaska's coast. The infamous Exxon Valdez oil spill in 1989 poisoned Alaska's beaches and wildlife, and significantly harmed Alaska's Indigenous communities.
Conservationists said that oil development would unnecessarily threaten the existence of the Porcupine caribou by cutting off the herd from calving areas. They also expressed concerns that oil operations would erode the fragile ecological systems that support wildlife on the tundra of the Arctic plain.
This oil and gas extraction project threatens to unleash 260 million metric tons of CO2 into the atmosphere over the next 30 years. In the process, it'll industrialize thousands of acres of habitat for animals like threatened polar bears and caribou into a polluted and noisy oil field.
Expected oil extraction Over its anticipated 30-year life, the Willow project could produce 200,000 barrels of oil per day, producing up to 600 million barrels of oil in total. ing to estimates by the Bureau of Land Management (BLM), Willow could generate between $8 and $17 billion in revenue.
The development is estimated to create 300 permanent jobs. The economic impact of the Willow project will be sizable. ing to BLM estimates, Willow could generate between $8 billion and $17 billion in new revenue for the federal government, the state of Alaska, the North Slope Borough and local communities.
The climate and environmental impacts of Willow Once passed, the 1.5 degree-tipping point would precipitate a cascade of devastating effects, including rising sea levels and extreme heat waves, that could lead to millions of deaths worldwide by the end of the century.
After a court challenge in 2021, the BLM issued its final supplemental environmental impact statement (SEIS) in February 2023. Alaskan lawmakers from both sides, as well as the Arctic Slope Regional Corporation, have supported the Willow project. On March 13, 2023, the Biden administration approved the project.
