Massachusetts Unit Agreement and Plan of Unitization

State:
Multi-State
Control #:
US-OG-738
Format:
Word; 
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Description

This Agreement is entered into, between the parties subscribing, ratifying, or consenting to it. The Parties are the owners of working, royalty, or other oil and gas interests in the Unit Area subject to this Agreement.


The Mineral Leasing Act of February 25, 1920, 41 Stat. 437, as amended, 30 U.S.C., Secs. 181 et seq., authorizes Federal lessees and their representatives to unite with each other, or jointly or separately with others, in collectively adopting and operating a cooperative or unit plan of development or operation of all or any part of any oil or gas pool, field, or like area, for the purposes of more properly conserving the natural resources whenever determined and certified by the Secretary of the Interior of the United States, to be necessary or advisable in the public interest.


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FAQ

Unitization Agreement means an agreement providing for the combining of separately owned oil or gas interests in a pool, formation or field to permit the efficient and economical drilling for or production of oil, gas or other unitized substances.

Generally, a pooling clause will allow the leased premises to be combined with other lands to form a drilling unit, wherein proceeds from production anywhere on the drilling unit are allocated ing to the percentage of the acreage of each tract divided by the total acreage of the drilling unit.

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] ...

Pooling is the combining of all oil and gas interests in a drilling unit. In most cases, the owners of oil and gas rights in a unit sign a lease with a developer that allows for pooling. If there is more than one developer in a unit, they voluntarily agree on a development plan.

When an oil and gas field is unitized, the various owners of the tracts above the reservoir work together to extract the reservoir's oil and gas. The Unitization Agreement aims to protect the interests of all parties involved while also avoiding some legal pitfalls.

?Unitization? means the combining or consolidation of separately owned lease interests for joint exploration or development of a reservoir or potential hydrocarbon accumulation under the terms of a Unit Agreement.

However, a pooling agreement is any agreement that brings together separately owned, usually small, mineral or leasehold interests in order to comply with state regulatory laws to drill a single well.[1] Specifically in Texas, the purpose is to accumulate sufficient surface acreage to permit drilling operations on a ...

Compulsory unitization is when a regulatory agency orders the collection of producing wells over a reservoir for joint operations such as enhanced-recovery techniques. This is usually done after primary production has begun to fall off substantially, in order to permit efficient secondary-recovery operations.

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Massachusetts Unit Agreement and Plan of Unitization