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 Idaho Supplemental Declaration of Pooled Unit is a legal document that outlines the terms, conditions, and regulations related to the creation and operation of a pooled unit in Idaho. This declaration is an important aspect of the oil and gas industry and governs the development of resources within a specific area. Key points covered in the Idaho Supplemental Declaration of Pooled Unit may include the geographical boundaries of the unit, the participating parties, the allocation and distribution of costs, expenses, and revenues, as well as the operational guidelines that must be followed. In Idaho, there are primarily two types of Supplemental Declaration of Pooled Units: Conventional and Unconventional. 1. Conventional Supplemental Declaration of Pooled Unit: This type of declaration is typically used in traditional oil and gas operations where a group of leaseholders collectively pool their interests in a specific area. This pooling allows for the more efficient development and extraction of resources as costs are shared among the participants. The Conventional Supplemental Declaration of Pooled Unit establishes the framework for the rights and responsibilities of the parties involved, ensuring fair distribution of costs and revenues. 2. Unconventional Supplemental Declaration of Pooled Unit: With the rise of unconventional reservoirs, such as shale gas and tight oil formations, a different set of regulations and guidelines are required. The Unconventional Supplemental Declaration of Pooled Unit is designed specifically for the development of these resources. It addresses the unique challenges and characteristics associated with unconventional reservoirs, including technologies like hydraulic fracturing. This declaration ensures that the interests of all parties involved are protected and that the development is carried out in a safe and environmentally responsible manner. Keywords: Idaho Supplemental Declaration of Pooled Unit, legal document, terms and conditions, regulations, oil and gas industry, resources, geographical boundaries, participating parties, costs, expenses, revenues, operational guidelines, Conventional Supplemental Declaration of Pooled Unit, Unconventional Supplemental Declaration of Pooled Unit, leaseholders, pooling, efficient development, extraction, rights, responsibilities, fair distribution, unconventional reservoirs, shale gas, tight oil formations, regulations, guidelines, traditional operations, unconventional operations, hydraulic fracturing, safe development, environmentally responsible.
