Kansas Gas Storage Unit Agreement (Establish Unit on Depleted Producing Property)
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FAQ
Unit Agreement means any agreement for the development or operation of all or any portion of the Leased Lands with other lands as a single unit without regard to separate ownership and for the allocation of costs and benefits on a basis as defined in such agreement.
?Unit operating agreement? means an agreement, providing for the management and operation of a unit area and a unitized zone, that is entered into by working interest owners who are parties to a unit agreement with respect to that unit area and unitized zone, and includes a unit operating agreement as varied by a ...
When you're at an oil and gas drilling site, a unit refers to the allowed region or boundary of a consolidated area where you are allowed to drill, explore and produce minerals. Oil and gas units provide options for joint operations to the operators and producers of mineral resources.