This declaration is used when a unit operator desires to supplement and amend a Declaration of Pooled Unit to include in the unit the oil, gas and mineral leases described in Exhibit A to this Supplement, covering lands within the confines of the Unit Area.
The Arkansas Supplemental Declaration of Pooled Unit is a legal document that pertains to the pooling of mineral resources in the state of Arkansas. This declaration is an important component in the oil and gas industry, ensuring regulations and guidelines are followed concerning the exploration and production of natural resources. The purpose of the Arkansas Supplemental Declaration of Pooled Unit is to establish a specific geographical area or "pooled unit" wherein multiple mineral interests are combined. This pooling allows for efficient extraction and maximization of resources, benefiting landowners and companies involved in the process. Keywords: Arkansas, Supplemental Declaration, Pooled Unit, mineral resources, oil and gas industry, regulations, guidelines, exploration, production, natural resources, geographical area, mineral interests, extraction, landowners. There are several types of Arkansas Supplemental Declaration of Pooled Unit, each serving a specific purpose within the industry: 1. Initial Supplemental Declaration of Pooled Unit: This type of declaration is drafted when initiating the process of pooling and aims to outline the proposed boundaries and participants within the pooled unit. 2. Amended Supplemental Declaration of Pooled Unit: When changes or adjustments need to be made to an existing pooled unit, an amended declaration is created. This document ensures that all participants are aware of the modifications and agree to its terms. 3. Ratification Supplemental Declaration of Pooled Unit: In some cases, a pooled unit is formed without a proper declaration. A ratification declaration is crafted retroactively to validate and legalize the pooling arrangement, ensuring adherence to the regulatory framework. 4. Termination Supplemental Declaration of Pooled Unit: If the need arises to dissolve a pooled unit prematurely, a termination declaration is drafted. This document outlines the process and specifies the responsibilities of all participants during and after termination. 5. Unit Expansion Supplemental Declaration: When there is a need to expand an existing pooled unit due to the discovery of additional mineral resources within the surrounding area, a unit expansion declaration is created. This declaration provides a framework for incorporating new participants and adjusting unit boundaries accordingly. Keywords: Initial, Amended, Ratification, Termination, Unit Expansion, pooled unit, boundaries, participants, modifications, retroactively, validate, legalize, dissolution, responsibilities, expansion, discovery, framework. These various types of Arkansas Supplemental Declaration of Pooled Unit documents help ensure transparency, compliance, and equitable distribution of benefits for all parties involved in the pooling of mineral resources.
