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.
Unitization Agreement
State:
Multi-State
Control #:
US-OG-776
Format:
Word;
Rich Text
Instant download
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FAQ
Unitization is a method for tracking an endowment fund's interest in an investment pool. Units and unit value are used to determine the value of each fund.The unit value, or unit price, is similar to the share price that forms the basis for how many shares can be purchased in the mutual fund model.
Unitization is essentially grouped or bundled cargo, wrapped into packages and loaded onto or inside a bigger unit. These bigger units can then be handled by machines such as forklifts and cranes.The efficiency of cargo handling increases as heavier units can combine many smaller packages into one large package.
Unitization is the agreement to jointly operate an entire producing reservoir or a prospectively productive area of oil and/or gas. The entire unit area is operated as a single entity, without regard to lease boundaries, and allows for the maximum recovery of production from the reservoir.
Manual. Semi- and fully automatic equipment. Stretchwrapping. Stretch hooding and shrinkwrapping. Strapping. Cornerboard. Greener unitizing. Understanding containment force.
Verb (used with object), u·nitA·ized, uA·nitA·izA·ing. to form or combine into one unit, as by welding parts together: a car with a unitized body. to divide or separate into units.
Unitized cargo is the main method by which imports and exports are brought in and out of the island of Ireland. Within the unitized cargo sector, cargo is transported either through Lo/Lo channels through Irish ports or alternatively for time sensitive consignments, cargo is moved through Ro/Ro channels.
Transitive verb. 1 : to form or convert into a unit. 2 : to divide into units the added cost of unitizing bulk products.