This form of declaration provides notice that the unit owner pools, unitizes, and combines the Unit Leases, including all renewals, extensions, ratifications, and amendments of the Unit Leases and the lands covered by those Leases and the mineral and/or royalty estates in the lands subject to the Leases into a unit for the exploration, development, and production of oil, gas, and associated hydrocarbons (the Unit ).
The South Dakota Declaration of Pooled Unit — Long Form is an important legal document used in the state of South Dakota for the purpose of establishing and regulating a pooled unit for oil, gas, or mineral exploration and production. This declaration outlines the terms and conditions regarding the pooling of interests in a specific area, enabling multiple interest owners to collectively explore and exploit the mineral resources within the unit. Keywords: South Dakota, Declaration of Pooled Unit, Long Form, oil exploration, gas exploration, mineral production, pooling of interests, collective exploration, mineral resources. There are different types of South Dakota Declaration of Pooled Unit — Long Forms, depending on the specific minerals being explored or produced. Some variations include: 1. Oil Exploration Pooled Unit — Long Form: This type of declaration specifically addresses the pooling of interests for oil exploration projects in South Dakota. It establishes the guidelines and agreement for multiple interest owners to jointly explore and exploit oil resources within a designated unit. 2. Gas Exploration Pooled Unit — Long Form: Similar to the oil exploration form, this variant focuses on pooling interests in natural gas exploration activities in South Dakota. It sets forth the terms and conditions for collective gas exploration and production within a defined unit area. 3. Mineral Production Pooled Unit — Long Form: This version of the declaration is broader in nature, encompassing various minerals beyond just oil and gas. It may be used for pooling interests relating to the production of minerals like coal, uranium, gold, silver, or any other substances found in South Dakota. Irrespective of the specific type, a South Dakota Declaration of Pooled Unit — Long Form serves as a binding legal agreement that establishes the rights and obligations of all participating interest owners within the pooled unit. It clarifies the allocation of costs, expenses, and revenues generated from the exploration or production activities, ensuring fairness and efficiency in resource utilization. By utilizing this specialized legal instrument, companies and individuals involved in mineral exploration and production in South Dakota can streamline operations, minimize costs, and maximize overall resource extraction efficiency. This ultimately benefits all stakeholders by enabling effective collaboration and supporting sustainable resource development in accordance with South Dakota state laws and regulations.
