This form is used to promote conservation, increase the ultimate recovery of Unitized Substances of the specified lands and to protect the rights of the owners, it is deemed necessary and desirable to enter this Agreement, in conformity with (Applicable State Statute), to unitize the oil and gas rights in the Unitized Formation in order to conduct Unit operations for the conservation and utilization of Unitized Substances as provided in this Agreement.
South Dakota Unitization Agreement
State:
Multi-State
Control #:
US-OG-776
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Unitization Agreement?
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FAQ
The Bakken oil boom has made North Dakota the second leading oil producing state?behind only Texas. Evidence of this boom is apparent on the landscape. The focus of this oil boom, which began around 2008, is on the Bakken formation of western North Dakota, northeastern Montana, and part of Canada.
North Dakota Quick Facts North Dakota ranks third in the nation, after Texas and New Mexico, in both crude oil reserves and production.
Almost all of the state's crude oil production is concentrated in the northwestern corner of the state, where Harding County produces most of South Dakota's crude oil and natural gas. Since the 1980s, the state's annual crude oil production has ranged between about 1 million and 2 million barrels per year.
The North Dakota oil boom was the period of rapidly expanding oil extraction from the Bakken Formation in the state of North Dakota that lasted from the discovery of Parshall Oil Field in 2006, and peaked in 2012, but with substantially less growth noted since 2015 due to a global decline in oil prices.
Basic Info. North Dakota Inland Rig Count is at a current level of 31.00, unchanged from 31.00 last week and down from 38.00 one year ago. This is a change of 0.00% from last week and -18.42% from one year ago.
