This form is used in the event any part to this Agreement elects not to participate in a Horizontal Exploratory Well, the non-participating party shall, on commencement of operations for the well, relinquish to the participating party one hundred percent (100%) of its rights, title, and interests in and to that portion of the Contract Area included within the Drilling Unit for the well and one hundred percent (100%) of the party’s rights, title, and interests in and to that portion of the Contract Area.
Illinois Relinquishment Provision - Horizontal Well
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US-OG-718
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FAQ
Any person claiming or appearing to claim an interest in the right to drill for and remove oil and gas from such land may be made a defendant.
(765 ILCS 530/) Drilling Operations Act. Sec. 1. This Act shall be known and may be cited as the "Drilling Operations Act".
Illinois Oil and Gas Act (225 ILCS 725) provides for the conservation of oil and gas resources through the protection of correlative rights, proper well spacing, integration and unitization of mineral interests; and for the regulation of the drilling, construction, operation, and plugging of oil and gas production ...
