This Designation is executed by the Operator and Working Interest Owners and filed of record for the purpose of evidencing their election to exercise the pooling authority granted to the lessees in the Leases, to give notice of the Unit being established, and to identify and describe the lands included in the Unit.
The Oklahoma Designation of Pooled Unit and Declaration of Pooling for Oil or Gas is a vital legal document used in the state of Oklahoma to manage the extraction and production of oil or gas from multiple mineral ownership. This document establishes the formation of a pooled unit, which combines various mineral tracts or leases and designates them as a single entity for efficient drilling and operations. In Oklahoma, there are different types of Designation of Pooled Unit and Declaration of Pooling for Oil or Gas, including: 1. Horizontal Pooling: This type of pooling occurs when multiple mineral tracts are combined to form a unit for the purpose of drilling horizontal wells, which have become increasingly prevalent in modern oil and gas operations. Horizontal pooling maximizes the recovery of hydrocarbons from a larger reservoir area by drilling and producing horizontally through the productive formation. 2. Vertical Pooling: Also known as traditional pooling, this type involves grouping together multiple mineral tracts to drill a vertical well. Vertical pooling is commonly used when the targeted reservoir is not suitable for horizontal drilling or when it is more cost-effective to extract oil or gas in a vertical manner. 3. Forced Pooling: In certain cases, the state regulatory body, such as the Oklahoma Corporation Commission, can enforce pooling if mineral owners within a drilling area cannot come to an agreement on their own. Forced pooling ensures that all parties receive an equitable share of production and prevents surface waste by allowing efficient development of the resource. The keywords associated with the Oklahoma Designation of Pooled Unit and Declaration of Pooling for Oil or Gas include: Oklahoma, designation, pooled unit, declaration, pooling, oil, gas, mineral ownership, lease, extraction, production, drilling, horizontal, vertical, forced pooling, regulation, efficient, hydrocarbons, wells, reservoir, surface waste, and agreement.
