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.
Hawaii Gas Storage and Secondary Recovery Unit Agreement is a contractual agreement that regulates the storage and secondary recovery of gas in the state of Hawaii. This agreement is crucial for ensuring the efficient and effective utilization of natural gas resources while maintaining environmental sustainability. Here are some relevant keywords and types of Hawaii Gas Storage and Secondary Recovery Unit Agreements: 1. Hawaii Gas Storage Agreement: This agreement sets out the terms and conditions for storing natural gas in underground storage facilities. It governs the rights and responsibilities of the gas storage operator and the companies or entities that utilize the storage services. Key aspects covered in this agreement may include storage capacity allocation, injection and withdrawal procedures, payment terms, liability and insurance provisions, operational and maintenance standards, and dispute resolution mechanisms. 2. Hawaii Secondary Recovery Unit Agreement: This type of agreement focuses on the secondary recovery of natural gas from existing reservoirs. It outlines the cooperation between the gas operators and the secondary recovery unit operators to effectively extract additional gas from depleted or low-pressure fields. The agreement usually includes provisions related to gas production optimization methods, technical equipment requirements, financial arrangements, data sharing, and potential risks associated with secondary recovery operations. 3. Hawaii Gas Storage and Secondary Recovery Unit Combined Agreement: In certain cases, both gas storage and secondary recovery operations are integrated into a single agreement. This comprehensive agreement combines the terms and conditions of gas storage and secondary recovery, ensuring efficient utilization of resources. It addresses the specific requirements of both activities, including reservoir management, capacity planning, gas injection and recovery strategies, financial obligations, and regulatory compliance. Such an agreement facilitates the coordination and integration of storage and secondary recovery operations, maximizing the potential of Hawaii's gas resources. 4. Hawaii Gas Storage and Secondary Recovery Unit Lease Agreement: In some instances, the gas storage and secondary recovery facilities may be owned by separate entities but are leased to others for utilization. This type of agreement establishes the terms and conditions for leasing the facilities, including lease duration, rental fees, maintenance responsibilities, operational requirements, and termination clauses. It ensures that the lessee adheres to the rules and regulations set by the lessor to ensure safe and efficient operations. Overall, these agreements play a vital role in facilitating the storage and secondary recovery of natural gas in Hawaii. They provide a framework for cooperation, enable efficient resource management, and ensure compliance with legal and environmental standards.
