This declaration is used when a unit operator desires to supplement and amend a Declaration of Pooled Unit to include in the unit the oil, gas and mineral leases described in Exhibit A to this Supplement, covering lands within the confines of the Unit Area.
The New Mexico Supplemental Declaration of Pooled Unit is a legal document specific to oil and gas operations in the state of New Mexico. It is a supplemental agreement that provides additional terms and conditions governing the development and production of oil and gas within a designated pooled unit. Keywords: New Mexico, Supplemental Declaration, Pooled Unit, oil, gas, operations, agreement, terms, conditions, development, production. There are two primary types of New Mexico Supplemental Declarations of Pooled Unit — Horizontal and Vertical: 1. Horizontal Supplemental Declaration of Pooled Unit: This type of agreement is typically used when horizontal drilling techniques are employed to access and extract oil and gas reserves that are spread over a wide area. The declaration outlines how multiple horizontal wells within the same pool or reservoir will be managed, including guidelines for drilling, spacing, pooling, and production requirements. It also includes provisions for the allocation of production proceeds among the co-owners of the pooled unit. 2. Vertical Supplemental Declaration of Pooled Unit: This type of agreement is applicable when vertical drilling techniques are utilized for oil and gas extraction. It primarily focuses on the vertical boundaries of the pooled unit and provides guidelines for drilling, spacing, pooling, and allocation of production proceeds among the co-owners. The declaration also outlines any specific requirements or restrictions related to vertical drilling operations within the designated unit. In both cases, the New Mexico Supplemental Declaration of Pooled Unit is designed to ensure efficient and comprehensive management of oil and gas operations within the specified geological reservoir. This document plays a crucial role in facilitating collaboration and coordination among the various operators, protecting the rights and interests of all parties involved, and ensuring the sustainable development of oil and gas resources in New Mexico.
