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.
Title: Exploring the North Dakota Gas Storage and Secondary Recovery Unit Agreement Introduction: The North Dakota Gas Storage and Secondary Recovery Unit Agreement is a contractual arrangement utilized in the state of North Dakota, which aims to optimize the extraction, storage, and recovery of natural gas reserves. This article will provide a detailed description of this agreement, highlighting its key features and benefits. Additionally, it will shed light on any variations or types of the North Dakota Gas Storage and Secondary Recovery Unit Agreement. 1. Understanding the North Dakota Gas Storage Agreement: The North Dakota Gas Storage Agreement primarily focuses on the establishment and management of gas storage facilities across the state. It provides a legal framework for entities involved in the exploration, production, and storage of natural gas to collaborate and ensure optimum utilization of resources. The agreement involves key stakeholders, such as gas producers, storage facility operators, regulatory bodies, and landowners. 2. Exploring the Secondary Recovery Unit Agreement: The Secondary Recovery Unit Agreement is an extension of the Gas Storage Agreement, specifically targeting the recovery of natural gas reserves. It aims to leverage advanced technologies and techniques to maximize the extraction of gas from existing wells. The agreement allows participating entities to pool resources, share costs, and jointly implement secondary recovery methods, such as water flooding or gas injection techniques, for enhanced production and efficient utilization of gas resources. 3. Key Features of the North Dakota Gas Storage and Secondary Recovery Unit Agreement: a) Collaboration: The agreement encourages collaboration among stakeholders, fostering shared expertise, resources, and costs to ensure successful gas storage and recovery operations. b) Planning and Operations: It outlines the planning, implementation, and management procedures for gas storage and secondary recovery activities, ensuring efficient use of resources and compliance with regulatory guidelines. c) Cost-Sharing: The agreement facilitates cost-sharing among participating entities, reducing financial burdens and encouraging equitable access to gas storage and recovery facilities. d) Property Rights: The agreement addresses land and property rights, outlining guidelines for access, usage, and compensation to landowners or leaseholders involved in gas storage and secondary recovery operations. e) Regulatory Compliance: The agreement incorporates provisions for adhering to federal, state, and local regulations concerning safety, environmental protection, and monitoring of gas storage and secondary recovery activities. Types of North Dakota Gas Storage and Secondary Recovery Unit Agreements: 1. Commercial Agreement: This type of agreement involves private parties, such as gas producers and storage facility operators, initiating storage and secondary recovery operations to optimize their commercial interests. 2. Government-Contracted Agreement: In this scenario, the state or federal government may enter into an agreement with private entities to facilitate gas storage and secondary recovery projects in North Dakota, aiming to ensure a steady gas supply, bolster energy security, and economic development. 3. Joint Venture Agreement: Some agreements may involve multiple entities forming a joint venture, sharing risks, resources, and expertise to undertake gas storage and secondary recovery operations collectively. Conclusion: The North Dakota Gas Storage and Secondary Recovery Unit Agreement is an instrumental framework that enables efficient utilization of natural gas resources, emphasizing collaboration, cost-sharing, and adherence to regulations. By encompassing various types of agreements, the state ensures the sustainable development and utilization of gas storage and secondary recovery projects, promoting economic growth and energy reliability in North Dakota.
