North Carolina Designation of Successor Operator, Communitization Agreement

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Multi-State
Control #:
US-OG-729
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Word; 
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Description

This form is used for the Designation of a Successor Operator pursuant to a specified Section of a Communitization Agreement. First Party is designated by Second Parties as Operator of the communitized area, and First Party desires to assume all the rights, duties, and obligations of Operator under the Communitization Agreement.



This Agreement is incorporated into this Designation by reference and made a part of it as fully and effectively as though the Agreement were expressly set forth in this Designation.

North Carolina Designation of Successor Operator, Commoditization Agreement is a legal document that outlines the transfer of operator responsibilities within a comm unitized oil and gas field or unit. It provides a structured framework through which operators can effectively manage the production, development, and operation of the resources in a given area. The agreement entails specific provisions and conditions that both parties must adhere to, ensuring smooth transition and continuity of operations. Keywords: North Carolina, Designation of Successor Operator, Commoditization Agreement, oil and gas, production, development, operation, resources, agreement, operator responsibilities, transfer, comm unitized field, unit, provisions, conditions, transition, continuity. Types of North Carolina Designation of Successor Operator, Commoditization Agreement: 1. Primary Designation of Successor Operator: This type of agreement designates a primary operator responsible for managing the operations within the comm unitized field or unit. The primary operator holds the main authority and control over the production activities, lease management, and decision-making processes. They are entrusted with the primary responsibility of ensuring the success and efficiency of the overall operations. 2. Alternate Designation of Successor Operator: In some cases, a commoditization agreement in North Carolina may include provisions for an alternate operator. This allows for a designated backup operator to assume control if the primary operator becomes unable or unwilling to fulfill their duties. The alternate operator will step in and take over the responsibilities, ensuring that the oil and gas field or unit can continue functioning smoothly. 3. Succession Planning Agreement: This type of commoditization agreement focuses on long-term planning and succession. It outlines the process and criteria for selecting a successor operator when the current operator's tenure ends or when a change of operator is necessary. The agreement may include provisions for evaluating potential operators, conducting interviews, and ensuring a smooth transition of responsibilities. 4. Joint Operator Agreement: A Joint Operator Agreement is another type of commoditization agreement that allows multiple operators to work together within a shared field or unit. Such agreements are commonly used when there are multiple leaseholders or working interest owners within a single area. The agreement outlines the roles, responsibilities, and decision-making processes for each operator, ensuring proper coordination and collaboration for efficient petroleum resource management. In summary, the North Carolina Designation of Successor Operator, Commoditization Agreement is a critical legal document used in the oil and gas industry to facilitate smooth transitions of operator responsibilities and ensure efficient management of resources within a comm unitized field or unit. Different types of agreements, including the primary designation, alternate designation, succession planning, and joint operator agreements, cater to various scenarios and requirements.

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§ 3217.11 What are communitization agreements? Under communitization agreements (also called drilling agreements), operators who cannot independently develop separate tracts due to well-spacing or well development programs may cooperatively develop such tracts. 43 CFR 3217.11 -- What are communitization agreements? - eCFR ecfr.gov ? subpart-3217 ? section-3217 ecfr.gov ? subpart-3217 ? section-3217

A unit agreement entails a BLM-approved agreement to cooperate in all facets of oil and gas production, without regard to lease boundaries and ownership. All unit agreements are subject to Onshore Oil and Gas Operations regulations (43 CFR Part 3160).

1. n. [Oil and Gas Business] The combining of smaller federal tracts of land to total the acreage required by the US Bureau of Land Management and/or state regulations to form a legal spacing and proration unit.

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How to fill out Wake North Carolina Designation Of Successor Operator, Communitization Agreement? Preparing legal documentation can be difficult. In ... In lieu of submitting all Second Party signatures, the First Party hereby certifies that the required working interest owner approvals have been obtained. ( ...Open the document and fill out all its fields. Apply your legally-binding eSignature. Save and invite other recipients to sign it. A. SUIT Communitization Agreement Number. B. Full and complete description of lands and associated formations (must match original. A successor operator may be designated by the owners of the working interest ... I, the undersigned, hereby certify on behalf of. , the. Operator of the proposed ... Report a separate line on Form ONRR-2014 for each lease/agreement combination in the PA. Communitized production.: A communitization agreement (CA) allows. This collection of forms is divided into 5 topical sections with 38 forms. Many of the forms are lengthy agreements providing for pooling or unitization. A joint operating agreement is a legal document that outlines the relationship between two or more businesses who jointly operate a business. by BM Murphy · 1952 · Cited by 3 — the designation of a successor operator by the working interest owners, and a form of change in the unit operator by assignment are provided. 10 6. The Indian ... After spudding a Nucor Well, Encana shall drill and complete such Nucor Well with due diligence and in a good and workmanlike manner, in accordance with good ...

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North Carolina Designation of Successor Operator, Communitization Agreement