This form is used to promote conservation, increase the ultimate recovery of Unitized Substances of the specified lands and to protect the rights of the owners, it is deemed necessary and desirable to enter this Agreement, in conformity with (Applicable State Statute), to unitize the oil and gas rights in the Unitized Formation in order to conduct Unit operations for the conservation and utilization of Unitized Substances as provided in this Agreement.
Montana Unitization Agreement
State:
Multi-State
Control #:
US-OG-776
Format:
Word;
Rich Text
Instant download
Description
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FAQ
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.
Unitization is the agreement to jointly operate an entire producing reservoir or a prospectively productive area of oil and/or gas. The entire unit area is operated as a single entity, without regard to lease boundaries, and allows for the maximum recovery of production from the reservoir.
Forced pooling allows the Board of Oil and Gas to issue orders that require owners of separately owned tracts within a spaced drilling unit to pool their interests in the underlying deposit and operate as a unit.
Upon issuance of a Pooling Order from a protested application, it can be appealed to the Oklahoma Supreme Court. Oklahoma's forced pooling process benefits operators, working interest partners, and mineral interest owners.
Forced Pooling (sometimes called Statutory or Compulsory Pooling) is a legal mechanism that allows oil and gas operators to drill wells when they are unable to get 100% of the mineral interests to commit to support the drilling of a well.