This form is used in the event any part to this Agreement elects not to participate in a Horizontal Exploratory Well, the non-participating party shall, on commencement of operations for the well, relinquish to the participating party one hundred percent (100%) of its rights, title, and interests in and to that portion of the Contract Area included within the Drilling Unit for the well and one hundred percent (100%) of the party’s rights, title, and interests in and to that portion of the Contract Area.
Montana Relinquishment Provision - Horizontal Well
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State:
Multi-State
Control #:
US-OG-718
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Word;
Rich Text
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FAQ
Montana is ranked #14 in the US based on Barrels of Oil Equivalent (BOE) produced in Jun 2023. You will also find information on the producers of wells as well as recent drilling permits, rigs and production data for producing wells which start in Jan 1986 and go through Aug 2023.
There are at least 45 named oil fields in Montana ing to the U.S. Geological Survey, Board of Geographic Names. The USGS defines oil field as: "Area where petroleum is or was removed from the Earth."
Shale oil and gas drilling is increasing across Montana in the Bakken formation, in Sweet Grass and Park counties, the Heath shale below Garfield, Fergus, Petroleum and Rosebud counties, and under the Blackfeet reservation.
1. Texas Total barrels annually (2022): 1.84 billion2. Share of U.S. production (2022): 43.02%2. Barrels per month (April 2023): 161.95 million9.
Montana holds less than 1% of U.S. total proved crude oil reserves, and the state accounts for about 1 in every 200 barrels of U.S. oil produced annually. Most of Montana's crude oil production comes from the Bakken Formation in the northeastern corner of the state along the border with North Dakota.
