New Mexico Dissolution of Pooled Unit
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How to fill out Dissolution Of Pooled Unit?
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FAQ
In New Mexico, however, there has been no judicial recognition or inter- pretation of the compulsory pooling law even though it has been in effect since 1935-the year in which Oklahoma adopted its pooling law.
(1) An operator shall not file an application for permit to drill nor commence the drilling of a horizontal oil or gas well until the operator has either: (a) received the consent of at least one working interest owner or unleased mineral interest owner of each tract (in the target pool or formation) in which any part ...
Compulsory pooling is used by oil and gas companies to force unleased or non-consenting landowners into oil and gas leases. It is used when oil and gas operators are unable, through voluntary agreement, to meet the acreage requirements for forming a drilling unit.
BUREAU OF LAND MANAGEMENT: The BLM New Mexico Field Office maintains information on mineral rights and has a public information room at 301 Dinosaur Trail, Santa Fe, NM 87508, (505) 954-2000, where that information can be researched.
? Pooling is the joinder of separately owned leases. covering different tracts of land for development as a single tract or "pool". - Pooling requires specific authorization by lessor by a. lease or a separate agreement such as declaration of unit.
Generally, a pooling clause will allow the leased premises to be combined with other lands to form a drilling unit, wherein proceeds from production anywhere on the drilling unit are allocated ing to the percentage of the acreage of each tract divided by the total acreage of the drilling unit.
To transfer any rights to minerals successfully, follow these steps: The new owner has to acquire a copy of the deed for the site at a local courthouse in New Mexico. Review the deed to ensure it matches the description and to ensure that the so-called rights to any minerals are included in the property deed.
Compulsory pooling orders the division enters pursuant to NMSA 1978, Section 70-2-17, as amended, may provide for the recovery, out of the share of production allocable to the working interest of a party that elects not to pay its proportionate share of well costs in advance, in addition to reasonable well costs and ...
