This form is used for the purposes of more effectively developing, producing, and operating the Unit Area in order to prevent surface and underground waste, and obtain the greatest ultimate recovery of production of oil and gas, promote conservation, and to afford each of the Parties the right to recover their fair and equitable share of the production to be obtained from the Unit Area, or to receive the attributable proceeds of such production.
The District of Columbia Gas Storage and Secondary Recovery Unit Agreement is a legal contract that outlines the terms and conditions for the storage and secondary recovery of natural gas in the District of Columbia area. This agreement serves as a blueprint for the management and operation of gas storage and secondary recovery units within the jurisdiction. This agreement is crucial for ensuring the efficient and effective utilization of natural gas resources in the District of Columbia. It enables the storage of excess gas during periods of low demand and its subsequent recovery during peak demand periods. This helps to stabilize gas prices, maintain consistent supply, and meet the energy needs of the region. The District of Columbia Gas Storage and Secondary Recovery Unit Agreement covers various aspects such as gas storage capacity, operational procedures, safety protocols, environmental standards, financial arrangements, and dispute resolution mechanisms. It provides a comprehensive framework for gas storage and secondary recovery activities, ensuring that they are carried out in compliance with local regulations and industry standards. In terms of different types of District of Columbia Gas Storage and Secondary Recovery Unit Agreements, there may be variations based on specific gas storage projects or facilities. For example, one type of agreement could pertain to an underground gas storage facility, while another might apply to a surface-based storage unit. The specific terms and conditions of these agreements may vary depending on factors like storage capacity, location, infrastructure, and technical specifications. In conclusion, the District of Columbia Gas Storage and Secondary Recovery Unit Agreement is a vital instrument for managing gas storage and secondary recovery operations in the District of Columbia area. This agreement ensures the optimal utilization of natural gas resources, promotes energy stability, and safeguards the interests of all stakeholders involved.
