This form is used for the purposes of more effectively developing, producing, and operating the Unit Area in order to prevent surface and underground waste, and obtain the greatest ultimate recovery of production of oil and gas, promote conservation, and to afford each of the Parties the right to recover their fair and equitable share of the production to be obtained from the Unit Area, or to receive the attributable proceeds of such production.
The "South Carolina Gas Storage and Secondary Recovery Unit Agreement" refers to a contractual agreement entered into between parties involved in the energy industry in South Carolina. This agreement encompasses the storage and secondary recovery of natural gas within the state. South Carolina Gas Storage Agreement: The Gas Storage Agreement focuses on the provision of storage facilities for natural gas in South Carolina. This agreement allows companies in the gas industry to lease or rent storage units or reservoirs to store excess natural gas supplies. With the increasing demand for natural gas, having storage facilities ensures a steady supply during peak usage times or unforeseen events. South Carolina Secondary Recovery Unit Agreement: The Secondary Recovery Unit Agreement pertains to the process of extracting additional natural gas from existing reservoirs using secondary recovery techniques. This agreement allows companies to implement enhanced recovery techniques, such as gas injection, water flooding, or carbon dioxide flooding, to restore or increase gas production in depleted or low-pressure reservoirs. Keywords: South Carolina, gas storage, secondary recovery, unit agreement, natural gas, storage facilities, lease, reservoirs, excess supplies, steady supply, peak usage, unforeseen events, extraction, enhanced recovery techniques, gas injection, water flooding, carbon dioxide flooding, gas production, low-pressure reservoirs.
