Each of the royalty owners who signs this instrument agrees to become a party to and be bound by the provisions of the Unit Agreement as if the original of that Agreement had been signed; and, each of the working interest owners who signs this instrument agrees to become a party to and be bound by the provisions of the Unit Agreement and the Unit Operating Agreement.
A Missouri Joiner to Unit Operating Agreement and/or Unit Agreement is a legal document that governs the rights and obligations of participants in an oil and gas exploration and development project in the state of Missouri. It serves as an addendum or extension to the existing unit operating agreement or unit agreement, allowing new parties to join an existing agreement or unit. In Missouri, there are different types of Joiner to Unit Operating Agreement and/or Unit Agreement, including: 1. Working Interest Joiner: This type of joiner allows new participants to acquire a working interest in an existing oil and gas unit. Working interest holders have the right to explore, develop, and produce oil and gas resources within the unit and share in the costs and revenues generated from operations. 2. Executive Rights Joiner: Executive rights refer to the authority to make decisions related to leasing, selling, assigning, or otherwise managing the mineral interests within the unit. This type of joiner grants new participants the ability to join the existing unit agreement and become involved in the decision-making processes regarding the executive rights. 3. Surface Rights Joiner: Surface rights refer to the ownership and usage of the land surface above the oil and gas unit. In certain cases, the land surface may be owned separately from the mineral rights. This type of joiner allows new participants who own the surface rights to become part of the unit agreement and participate in decisions regarding surface use, infrastructure development, and environmental concerns. 4. Royalty Interest Joiner: Royalty interest holders are entitled to a percentage of the revenue generated from the production of oil and gas within the unit, without bearing the associated costs of operation. This type of joiner enables new parties to acquire a royalty interest in the unit and receive a share of the revenues. When a party wishes to join an existing unit operating agreement or unit agreement in Missouri, they must file a Joiner to Unit Operating Agreement with the appropriate regulatory authorities. This document outlines the party's rights, obligations, and ownership interests within the unit and specifies the terms of their participation. In conclusion, a Missouri Joiner to Unit Operating Agreement and/or Unit Agreement is a legal instrument that facilitates the inclusion of new participants in an existing oil and gas unit. It offers various types of participation, including working interest, executive rights, surface rights, and royalty interest joiner. These agreements enable interested parties to collaborate, share costs and revenues, and make collaborative decisions regarding the exploration and development of oil and gas resources in Missouri.
