This form is used when the Operator desires to amend the Designation of Pooled Unit, as permitted by the terms of the Leases included in the Unit, to (increase/reduce) the size of the Unit so that, on the Effective Date of this Amendment, the Unit will consist of a specific number of acres of land, which lands are to be depicted on a plat attached to this Amendment.
The Oklahoma Amendment to Pooled Unit Designation is a legal provision that pertains to the oil and gas industry in the state of Oklahoma. This amendment outlines the regulations and procedures for the pooling of oil and gas interests within a specified geographical area, known as a pooled unit. A pooled unit refers to the consolidation of multiple oil and gas leaseholds or tracts of land into a single unit for the purpose of efficient and economical production. The Oklahoma Amendment to Pooled Unit Designation provides guidelines on how operators can combine their drilling and production activities within a designated area to maximize recovery and minimize wasteful extraction practices. One type of Oklahoma Amendment to Pooled Unit Designation is the Horizontal Well Unit Designation. This type of designation allows for the pooling of oil and gas interests specifically for the purpose of drilling and producing from horizontal wells. Horizontal drilling has become increasingly popular in Oklahoma due to its ability to access previously untapped reserves and increase overall production efficiency. Another type is the Vertical Well Unit Designation, which focuses on pooling interests in vertical drilling operations. Vertical wells are traditionally drilled straight down into the ground, and this type of unit designation ensures that the production from these wells is effectively pooled to maximize resource extraction. Additionally, there is the Provisional Pooled Unit Designation, which allows for temporary pooling arrangements while operators evaluate the productivity of a specific area. This designation caters to situations where initial well results may not be conclusive, and further data analysis is required before a permanent pooled unit can be established. The Oklahoma Amendment to Pooled Unit Designation is crucial for the oil and gas industry as it promotes efficient production practices, minimizes surface footprint, and facilitates the sharing of costs, risks, and benefits among operators within a designated area. It ensures that all parties involved in oil and gas extraction operate within a fair and regulated framework, protecting the rights of landowners and operators while facilitating responsible resource development. In summary, the Oklahoma Amendment to Pooled Unit Designation encompasses various types of unit designations such as Horizontal Well Unit Designation, Vertical Well Unit Designation, and Provisional Pooled Unit Designation. These designations provide a framework for operators to pool their oil and gas interests, promoting efficient resource extraction while adhering to regulatory guidelines.
