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.
Kentucky Amendment to Pooled Unit Designation
State:
Multi-State
Control #:
US-OG-365
Format:
Word;
Rich Text
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How to fill out Amendment To Pooled Unit Designation?
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FAQ
Unitization is the joint, coordinated operation of a petroleum reservoir by all the different owners of the reservoir; it is the best mechanism for assuring the maximum recovery of hydrocarbons in an efficient manner.
Published . Field unitization is the process of combining smaller portions of a hydrocarbon reservoir that straddle across one or more license boundaries, into a single unit for the purpose of optimizing oil and gas exploration and production.
Unitization is a process in which two or more operating companies combine their interests in a single unitized area, allowing them to operate their wells together. Texas' standards include determining the boundaries of the unitized area and how production will be divided amongst the participating companies.
Unitization is the act of consolidating multiple smaller units into a larger unit for improved warehouse efficiency, quicker packaging and arranging, and more efficient handling and transportation.
Pooling is ?the bringing together of small tracts sufficient for the granting of a well permit under applicable spacing rules,? while unitization is ?the joint operation of all or some portion of a producing reservoir.?[1] While pooling and unitization are both used to prevent waste and protect correlative rights,[2] ...