This form is used when any party electing not to participate in an exploratory well after the exploratory well has been drilled, relinquish and assign to the Drilling Party or Parties one hundred percent (100%) of its rights, title and interests in the Drilling Unit and the eight (8) Drilling Units directly and diagonally offsetting the Drilling Unit on which the well was drilled.
South Carolina Relinquishment Provision - Exploratory Well
Category:
State:
Multi-State
Control #:
US-OG-717
Format:
Word;
Rich Text
Instant download
Description
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FAQ
States require a drilling permit before a well begins drilling. Requirements to receive drilling permits generally include minimum setbacks from lease or unit boundaries, and adequate casing and cementing programs.
South Carolina has no crude oil reserves or production, and there are no petroleum refineries in the state.
Reserves. There is no oil or gas activity in South Carolina due to limited crude oil and natural gas reserves.
Today, petroleum is found in vast underground reservoirs where ancient seas were located. Petroleum reservoirs can be found beneath land or the ocean floor. Their crude oil is extracted with giant drilling machines.
South Carolina has no oil or gas reserves, ing to the U.S. Energy Information Administration. So we don't have to worry about the hazards to health and the environment caused by hydraulic fracturing, or fracking. Right?
