This Agreement is entered into, between the parties subscribing, ratifying, or consenting to it. The Parties are the owners of working, royalty, or other oil and gas interests in the Unit Area subject to this Agreement.
The Mineral Leasing Act of February 25, 1920, 41 Stat. 437, as amended, 30 U.S.C., Secs. 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 a cooperative or unit plan of development or operation of all or any part of any oil or gas pool, field, or like area, for the purposes of more properly conserving the natural resources whenever determined and certified by the Secretary of the Interior of the United States, to be necessary or advisable in the public interest.
The New York Unit Agreement and Plan of Unitization is a legal document used in the energy industry to establish the joint development and operation of oil and gas fields located in New York. It serves as a framework for the efficient extraction and production of resources, ensuring fair distribution of costs, revenues, and responsibilities among the participating parties. Keywords: New York, Unit Agreement, Plan of Unitization, energy industry, joint development, operation, oil and gas fields, resources, extraction, production, fair distribution, costs, revenues, responsibilities, participating parties. There are various types of New York Unit Agreements and Plans of Unitization that may be used depending on the specific circumstances and stakeholders involved. Some commonly encountered types include: 1. Traditional Unit Agreement: This type of agreement establishes a cooperative arrangement among working interest owners and leaseholders within a designated geological area. It outlines the construction, operation, and maintenance of infrastructure required for efficient resource development. 2. Enhanced Unit Agreement: In cases where advanced technologies or techniques are necessary for extracting resources, an enhanced unit agreement may be utilized. This type of agreement may include provisions for secondary or tertiary recovery methods, such as water flooding or gas injection, to maximize resource extraction. 3. Cross-Unit Agreement: When oil and gas reservoirs extend across multiple units, a cross-unit agreement is implemented. This agreement establishes coordination and cooperation between different unit operators to ensure efficient utilization and management of shared resources. 4. Compulsory Unitization Agreement: In situations where there is a dispute, or one or more parties are not willing to voluntarily enter into a unit agreement, a compulsory unitization agreement may be invoked. This legally enforceable agreement compels all stakeholders to collaborate and execute the necessary actions for unit development and operation. 5. Modified Unit Agreement: Sometimes, during the course of operations, changes may be required to the initial unit agreement. A modified unit agreement enables amendments or alterations while ensuring the continued effectiveness and regulatory compliance of the unitization plan. It is important to note that the specific terms and provisions within a New York Unit Agreement and Plan of Unitization may vary depending on factors such as geological characteristics, ownership structure, technology requirements, and regulatory guidelines.
