This form is used when the Operator desires to amend the Designation of Pooled Unit, as permitted by the terms of the Leases included in the Unit, to (increase/reduce) the size of the Unit so that, on the Effective Date of this Amendment, the Unit will consist of a specific number of acres of land, which lands are to be depicted on a plat attached to this Amendment.
The California Amendment to Pooled Unit Designation is a legal provision that pertains to the pooling of land and resources for the purpose of oil, gas, or mineral extraction in the state of California. This amendment alters the previous regulations and establishes specific guidelines regarding the designation and organization of pooled units. Under this amendment, the concept of pooled units is defined as a collective grouping of land or leases under a single operator to explore and develop natural resources efficiently. It allows multiple landowners or leaseholders to join their acreage or interests together, thereby creating a larger area for exploration and production, which can lead to increased efficiency and cost-effectiveness in the extraction process. Key provisions within the California Amendment to Pooled Unit Designation encompass the requirement for a formal agreement among all participating parties, outlining the terms and conditions for the pooled unit. This agreement typically addresses matters such as the allocation of revenues, expenses, and royalties among the participants, as well as the distribution of production. There are several types of California Amendments to Pooled Unit Designation, tailored to specific circumstances or purposes. Some of these include: 1. Voluntary Pooling Amendment: This type of amendment enables landowners or leaseholders to voluntarily combine their interests or acreage to form a pooled unit. It provides a framework for cooperation and collaboration among multiple parties for the extraction of natural resources. 2. Compulsory Pooling Amendment: Under certain circumstances, the state of California may require landowners or leaseholders to pool their interests or acreage. This type of amendment ensures the fair and equitable utilization of resources and prevents a few individuals from obstructing the efficient extraction of natural resources. 3. Horizontal Well Pooling Amendment: Specifically designed for the extraction of oil or gas using horizontal drilling techniques, this amendment allows for the pooling of land or leases across different formations or geologic strata. It facilitates the extraction of resources from multiple reservoirs simultaneously, leading to enhanced productivity and optimal resource utilization. Overall, the California Amendment to Pooled Unit Designation aims to promote the responsible and efficient extraction of oil, gas, and minerals in the state. It provides a legal framework for landowners, leaseholders, and operators to collaborate, maximize productivity, reduce costs, and ensure equitable distribution of revenues generated from natural resource extraction.
