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.
Illinois Amendment to Pooled Unit Designation is a legal provision that allows for modifications to the existing designation of pooled units in Illinois. Pooled units refer to a consolidated land area comprising multiple mineral leases or tracts, which are combined for the purpose of conducting oil, gas, or mineral exploration and production operations efficiently. The Illinois Amendment to Pooled Unit Designation may be required when there is a need to alter the existing pooled unit, which could be due to various reasons such as changes in ownership, geologic formations, production rates, or the addition of new wells. This amendment ensures that the pooled unit continues to effectively facilitate the extraction and production of oil, gas, or minerals while adhering to state regulations and lease agreements. There are different types of Illinois Amendments to Pooled Unit Designation based on the specific modifications being proposed: 1. Expansion Amendment: This type of amendment aims to enlarge the existing pooled unit by adding additional leased area or contiguous tracts to maximize production potential. It requires proper documentation and approval from regulatory authorities. 2. Reduction Amendment: In some cases, there might be a need to reduce the size of the pooled unit, especially if certain leases within the unit have expired or if production rates have declined. The reduction amendment ensures that the reduced unit still complies with legal requirements for exploration and production activities. 3. Operator Change Amendment: When there is a change in the operator responsible for overseeing the operations within the pooled unit, an operator change amendment is required. This ensures that the new operator is legally designated and authorized to continue the production activities within the unit. 4. Well Addition Amendment: When new wells are drilled within the existing pooled unit area, a well addition amendment becomes necessary to include these newly established wells under the purview of the pooled unit. This allows for efficient management and regulation of the expanded production operations. 5. Zone Modification Amendment: If the geologic formations in the pooled unit need to be redefined or modified due to changes in drilling techniques or exploration results, a zone modification amendment is required. It ensures that the pooling designation accurately reflects the underground reservoirs and formations targeted for extraction. Overall, the Illinois Amendment to Pooled Unit Designation provides a framework for adjusting pooled units' parameters in order to optimize oil, gas, or mineral production. These amendments play a crucial role in adapting to changing circumstances, maximizing resource recovery, and complying with legal and regulatory requirements.
