This form is an agreement that is used by the Parties that are the owners of working, royalty, or other oil and gas interests in the unit area subject to this Agreement. It is pursuant to the Mineral Leasing Act of February 25, 1920, as amended, 30 U.S.C. Sec. 181 et seq., authorizes Federal lessees and their representatives to unite with each other, or jointly or separately with others, in collectively adopting and operating under a unit plan of development or operations of all or any part of any oil and gas pool, field, or like area, for the purpose of more properly conserving the natural resources whenever determined and certified by the Secretary of the Interior to be necessary or advisable in the public interest.
The New York Exploratory Unit Agreement is a legal agreement that governs the exploration and development of oil and gas resources in the state of New York. This agreement is essential for companies or individuals involved in the exploration process and ensures compliance with state regulations and guidelines. In New York, there are various types of Exploratory Unit Agreements that exist depending on specific locations and characteristics. These include: 1. Onshore Exploratory Unit Agreement: This type of agreement pertains to the exploration and drilling activities conducted on land within designated areas in New York. It outlines the rights, obligations, and responsibilities of the parties involved, such as the operator and non-operator parties. 2. Offshore Exploratory Unit Agreement: This agreement relates to the exploration and drilling activities conducted in bodies of water off the coast of New York. It establishes the framework for resource exploration while considering environmental factors and compliance with offshore drilling regulations. 3. Horizontal Exploratory Unit Agreement: This agreement focuses on the exploration and development of oil and gas resources through horizontal drilling methods. It outlines the technical procedures, well-spacing rules, and sharing arrangements between parties involved in the exploitation of a specific area or reservoir. 4. Conventional Exploratory Unit Agreement: This type of agreement refers to the exploration and development of conventional oil and gas resources in New York. It covers traditional drilling and extraction methods and defines the conditions under which parties may extract the resources within the designated exploratory unit. 5. Unconventional Exploratory Unit Agreement: This agreement governs the exploration and development of unconventional resources, such as shale gas or oil sands. It addresses the unique challenges, regulations, and procedures related to the extraction of these resources in New York. Key provisions within the New York Exploratory Unit Agreement typically include the duration of the agreement, the allocation of costs and risks, operating procedures, production sharing arrangements, dispute resolution mechanisms, and commitments to environmental and safety standards. It is crucial for parties entering into this agreement to fully understand their rights and responsibilities while adhering to the laws and regulations set forth by the State of New York.
