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.
An Indiana Gas Storage and Secondary Recovery Unit Agreement is a legally binding contract established between a gas storage operator and a gas owner or producer in the state of Indiana, United States. This agreement outlines the terms and conditions under which the gas storage operator will provide storage services for natural gas or other hydrocarbon products and allows the gas owner to economically store and withdraw gas reserves as needed. Keywords: Indiana, gas storage, secondary recovery, unit agreement, gas owner, gas producer, natural gas, hydrocarbon products, storage services, gas reserves. There are several types of Indiana Gas Storage and Secondary Recovery Unit Agreements, each designed to cater to specific requirements and circumstances. Some of these variations include: 1. Short-Term Storage Agreement: This type of agreement is typically for a duration of less than one year and provides temporary storage options, often used during peak demand periods or when supply exceeds consumption. It allows the gas owner to store excess gas and withdraw as needed within the agreed-upon timeframe. 2. Long-Term Storage Agreement: These agreements are for extended durations, usually spanning multiple years, providing a more stable and consistent storage solution. It allows gas owners to secure storage capacity for future use, guaranteeing access to reserves during low supply periods or when market conditions are favorable. 3. Strategic Storage Agreement: This agreement focuses on enhancing a company's energy security by allowing gas owners, such as utilities or industrial consumers, to store reserves for emergency or contingency purposes. It ensures that gas reserves are readily available to meet unexpected demand surges or gas supply disruptions. 4. Secondary Recovery Unit Agreement: This specific type of agreement is tailored towards the gas exploration and production industry, where secondary recovery techniques like gas injection or water flooding are employed to maximize hydrocarbon extraction from existing reservoirs. Gas owners or producers can enter this agreement to access storage facilities, injecting gas or alternative substances to enhance reservoir pressure and recover additional resources. 5. Customized Storage Agreement: This type of agreement offers flexibility and customization options to meet unique requirements or specific operational needs of gas owners. It allows for tailored terms, pricing structures, and storage volumes, ensuring an optimal solution that aligns with the gas owner's goals and preferences. In conclusion, an Indiana Gas Storage and Secondary Recovery Unit Agreement is a contractual arrangement catering to the storage needs of gas owners or producers in Indiana. It offers various types of agreements, including short-term, long-term, strategic, secondary recovery, and customized options, reflecting the diverse requirements of the gas industry.
