Virginia Relinquishment Provision - All offset Wells

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Multi-State
Control #:
US-OG-716
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Word; 
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Description

This clause addresses the responsibilites in the event any Party elects not to participate in the drilling of a well and provides for the relinquishment of interest and assignments by that party.

The Virginia Relinquishment Provision, specifically pertaining to All Offset Wells, is an important legal mechanism that governs the oil and gas industry in the state. This provision plays a crucial role in ensuring proper well spacing and preventing the waste of valuable resources. The Virginia Relinquishment Provision — All Offset Wells mandates that when a particular well is drilled and completed, all the potential drilling locations within a specified area shall be relinquished. Simply put, this means that once a well is established, the surrounding prospective drilling sites must be released or relinquished, allowing for future development in an orderly and systematic manner. There are different types of Virginia Relinquishment Provision — All Offset Wells, such as the spacing unit relinquishment and the well bore relinquishment. 1. Spacing Unit Relinquishment: In the case of spacing unit relinquishment, when a well is drilled within a designated spacing unit, all potential drilling locations within that unit must be relinquished. This ensures that there is adequate spacing between wells to prevent interference and maximize resource recovery. It allows for the orderly and sequential extraction of resources without crowding multiple wells in a confined area. 2. Well bore Relinquishment: The well bore relinquishment aspect of the Virginia Relinquishment Provision mandates that once a well bore has been drilled and completed, subsequent drilling within a certain distance from the existing well bore is prohibited. This stipulation ensures that the newly drilled wells do not interfere with the productivity of the existing wells. It maintains a safe distance between wells, preventing complications from drilling too closely and causing undesirable effects such as well blowouts or cross-contamination of reservoirs. The Virginia Relinquishment Provision — All Offset Wells is a critical component of oil and gas regulations in Virginia. With the goal of optimizing resource extraction while maintaining operational safety, this provision helps to strike a balance between industry demands and environmental concerns. By delineating boundaries for future drilling and spacing requirements, it ensures the efficient and responsible development of oil and gas resources in Virginia.

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FAQ

The Code of Virginia (Section §33.2-1011) prescribes our right for entering property for highway related purposes, courtesy demands that this right must not be abused. Every possible effort must be made by all entering the property to contact public and private property owners prior to entry.

§ 33.2-1023. Proceedings for distribution of funds; effect of acceptance of payments; evidence as to amount of deposit or certificate.

"Prescriptive easement" means an easement in favor of an incumbent utility or communications provider that is deemed to exist, without any requirement of adverse possession, claim of right, or exclusivity, when physical evidence, records of the incumbent utility, public records, or other evidence indicates that it has ...

§ 46.2-820. Right-of-way at uncontrolled intersections, generally. Except as otherwise provided in this article, when two vehicles approach or enter an uncontrolled intersection at approximately the same time, the driver of the vehicle on the left shall yield the right-of-way to the vehicle on the right.

Some common types of easements include: Right-of-way. Right of entry. Right to the support of land and buildings. Right of light and air. Right to water.

§ 46.2-830. Uniform traffic control devices on highways; drivers to obey traffic control devices; enforcement of section. The Commissioner of Highways may classify, designate, and mark state highways and provide a uniform system of traffic control devices for such highways under the jurisdiction of the Commonwealth.

Virginia Supreme Court Largely Affirms Right of Pipeline to Conduct Property Surveys and Examinations without Landowner Approval.

§ 46.2-821. Vehicles before entering certain highways shall stop or yield right-of-way.

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Jun 24, 2020 — The standard setoff clause looks like this: Contractor may withhold amounts otherwise due under this Subcontract or any other agreement between ... Nov 5, 2016 — On page 68 added note regarding Notice of Intent to File letter and waiver procedures. 10/13/2017. 4. 4.2.10. 4.4.4. 12. 45 Corrected Virginia ...Jul 1, 2014 — Check the middle box to indicate that you will be completing the payment history provided on page ... have all the requested information filled ... On-line training will be provided for all new participants. ... The Department will provide each set-off agency with a file listing all claims containing errors. by KB Hall · 2019 · Cited by 12 — triggered the offset well clause, or must the offset well be close enough to ... preclude complete termination while allowing partial termination ... ... the user to closely review all the terms and provisions of the Agreement. This has ... Relinquishment Provision - All Offset Wells · Relinquishment Provision ... ... Instructions for Using Provisions and Clauses. 52.100 Scope of subpart ... in 52.1. Subpart 52.2 - Text of Provisions and Clauses. 52.200 Scope of subpart ... Competitive Rates and Use of Affiliates: All wells drilled on the Contract ... well, the relinquishment provisions of this Article VI.B.2. (b) shall apply ... Unreasonably burdensome pension costs due solely to declining covered employment in all single- employer plans for which the person seeking the distress ... Under the Virginia Payment of Wage Law, upon termination of employment, an employee shall be paid all wages or salaries due them for work performed before ...

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Virginia Relinquishment Provision - All offset Wells