This form is an agreement that is used by the Parties that are the owners of working, royalty, or other oil and gas interests in the unit area subject to this Agreement. It is pursuant to the Mineral Leasing Act of February 25, 1920, as amended, 30 U.S.C. Sec. 181 et seq., authorizes Federal lessees and their representatives to unite with each other, or jointly or separately with others, in collectively adopting and operating under a unit plan of development or operations of all or any part of any oil and gas pool, field, or like area, for the purpose of more properly conserving the natural resources whenever determined and certified by the Secretary of the Interior to be necessary or advisable in the public interest.
Delaware Exploratory Unit Agreement, also known as Delaware EUA, is a legal and contractual agreement typically employed in the oil and gas industry. This agreement establishes a framework for the exploration and potential development of oil and gas resources within a designated geographically bounded area in the state of Delaware, United States. Keywords associated with Delaware Exploratory Unit Agreement: Delaware, exploratory unit, agreement, oil and gas industry, exploration, development, resources. There are two types of Delaware Eras commonly used: 1. Traditional Delaware EUA: This type of agreement is based on the exploration and development of hydrocarbon resources, mainly oil and gas, in a specific area within Delaware. It allows interested parties, such as oil and gas companies, to collectively explore and potentially produce hydrocarbons from common geological formations. 2. Enhanced Delaware EUA: This agreement is similar to the traditional EUA but aims to incorporate additional advanced technologies, methodologies, or practices maximizing the extraction and production of hydrocarbons from the designated area. Enhanced Eras often involve the integration of enhanced oil recovery techniques like hydraulic fracturing, cyclic steam stimulation, or carbon capture and storage. These Delaware Eras are typically negotiated between the operating company or operator and different stakeholders, including landowners, mineral rights holders, state regulatory authorities, and potentially affected communities. The terms and conditions of the agreement define the rights, responsibilities, and obligations of each party involved, ensuring a fair and sustainable exploration and development process within the specified area. Overall, Delaware Exploratory Unit Agreements play a crucial role in facilitating a collaborative and environmentally responsible approach towards exploring and developing oil and gas resources in Delaware, aiming to balance economic benefits with environmental and social considerations.
