This Designation is executed by the Operator and Working Interest Owners and filed of record for the purpose of evidencing their election to exercise the pooling authority granted to the lessees in the Leases, to give notice of the Unit being established, and to identify and describe the lands included in the Unit.
The New Hampshire Designation of Pooled Unit and Declaration of Pooling for Oil or Gas is an important legal document that regulates the exploration and production of oil or gas within the state. This document establishes the rules and guidelines for forming pooled units and their subsequent development. In New Hampshire, there are two main types of pooled units and declarations of pooling for oil or gas: 1. Voluntary Pooled Units: These units are created when multiple landowners agree to combine their properties for the purpose of oil or gas exploration and production. The agreement is voluntary and requires the consent of all participating parties. The Declaration of Pooling outlines the terms and conditions of the pooling arrangement, including the proportional sharing of costs, royalties, and net proceeds. 2. Compulsory Pooled Units: Under certain circumstances, the New Hampshire government may issue a compulsory pooling order to consolidate mineral rights and ensure efficient and fair development of oil or gas resources. This type of pooling is typically initiated when a majority of mineral rights owners within a specific area agree to the pooling, but some owners refuse or fail to participate. The compulsory pooling order compels all owners within the defined area to pool their interests and co-develop the resource. Keywords: New Hampshire, Designation, Pooled Unit, Declaration of Pooling, Oil, Gas, Exploration, Production, Voluntary Pooled Units, Compulsory Pooled Units, Landowners, Properties, Agreement, Consent, Terms, Conditions, Sharing, Costs, Royalties, Net Proceeds, Government, Mineral Rights, Consolidation, Efficient Development, Fair Development, Majority, Owners, Refusal, Failure, Co-development.
