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.
The Indiana Amendment to Pooled Unit Designation is a legal process that allows the modification or alteration of a previously established pooled unit designation in the state of Indiana. Pooled units are a common method used in the oil and gas industry to efficiently extract resources from shared land areas. This amendment ensures that the unit's boundaries, ownership percentages, and operating guidelines align with current requirements and conditions. This amendment can be categorized into different types based on the specific modifications being made to the existing pooled unit designation. Some common types include: 1. Boundary Modification: This type of amendment involves adjusting the boundaries of the existing pooled unit. It may be necessary when additional land needs to be included in the unit due to the discovery of new reservoirs or lease acquisitions. Conversely, it could also involve the removal of certain areas or parcels that are no longer viable for production. 2. Ownership Percentage Adjustment: In this type of amendment, changes are made to the ownership interests within the pooled unit. It may involve modifying the distribution of working interests between the participating leaseholders based on production performance, reservoir characteristics, or lease terms. 3. Operating Guideline Revisions: Pooled unit designations often come with specific rules and operating guidelines that dictate the manner in which resources are extracted and distributed. Amendments in this category involve modifications to these guidelines, such as changes in drilling and production practices, allocation methods, or terms related to the unit's lifespan. 4. Combination or Division of Units: In some cases, multiple pooled units may be combined to form a single unit, or an existing unit may be divided into smaller units. Such amendments aim to optimize production efficiency, align leasehold interests, or accommodate changes in field development strategies. It is important to note that the process of filing an Indiana Amendment to Pooled Unit Designation involves submitting a formal application to the appropriate regulatory body, typically the Indiana Department of Natural Resources (DNR). The application should include detailed justifications, supporting documentation, and a comprehensive plan outlining the proposed changes. Keywords: Indiana, Amendment, Pooled Unit Designation, oil and gas industry, boundaries, ownership percentages, operating guidelines, boundary modification, ownership percentage adjustment, operating guideline revisions, combination of units, division of units, Indiana Department of Natural Resources (DNR), application, regulatory body.
