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.
The Michigan Gas Storage and Secondary Recovery Unit Agreement is a legally binding agreement between a gas storage company and a secondary recovery unit, outlining the terms and conditions for the usage, storage, and extraction of natural gas in the state of Michigan. This agreement is specifically designed to facilitate the efficient management and operation of gas storage facilities and secondary recovery operations. Keywords: Michigan Gas Storage, Secondary Recovery Unit Agreement, gas storage company, natural gas extraction, terms and conditions, gas storage facilities, secondary recovery operations. There are different types of Michigan Gas Storage and Secondary Recovery Unit Agreements, each catering to specific needs and requirements. Here are a few variations: 1. Storage Agreement: This type of agreement focuses primarily on the storage of natural gas in underground facilities. It includes provisions for capacity allocation, injection and withdrawal procedures, inventory management, and pricing terms. 2. Injection Agreement: This agreement specifically addresses the injection of natural gas into storage facilities. It outlines the terms for the requirements and procedures related to injecting the gas, including pressure limitations, quality specifications, and volumetric commitments. 3. Withdrawal Agreement: This agreement deals specifically with the withdrawal of natural gas from storage facilities. It establishes the conditions for withdrawal rates, priority rights, and scheduling procedures to ensure a smooth and efficient withdrawal process. 4. Secondary Recovery Unit Agreement: This variation is tailored for operations involving the extraction of natural gas from depleted reservoirs or fields using secondary recovery techniques such as gas depressurization or enhanced oil recovery methods. It covers aspects such as reservoir management, production sharing arrangements, and cost allocation among participating parties. 5. Cost-Sharing Agreement: This type of agreement is focused on the sharing of costs related to the operation and maintenance of gas storage facilities and secondary recovery units. It outlines the proportionate cost sharing responsibilities of the parties involved, including capital expenditure, operating expenses, and maintenance fees. Overall, the Michigan Gas Storage and Secondary Recovery Unit Agreement offers a comprehensive framework for the collaboration between gas storage companies and secondary recovery units, ensuring efficient utilization of natural gas resources, compliance with regulations, and mutually beneficial outcomes.
