Virgin Islands Dissolution of Pooled Unit (By Unit Owners)

State:
Multi-State
Control #:
US-OG-982
Format:
Word; 
Rich Text
Instant download

Description

This form is for dissolution of pooled unit by unit owners.
Free preview
  • Preview Dissolution of Pooled Unit (By Unit Owners)
  • Preview Dissolution of Pooled Unit (By Unit Owners)

How to fill out Dissolution Of Pooled Unit (By Unit Owners)?

You are able to devote time on the Internet looking for the authorized document template that meets the state and federal specifications you will need. US Legal Forms provides a huge number of authorized forms that are reviewed by specialists. You can easily down load or print the Virgin Islands Dissolution of Pooled Unit (By Unit Owners) from our support.

If you already have a US Legal Forms profile, you are able to log in and then click the Acquire option. After that, you are able to total, change, print, or indicator the Virgin Islands Dissolution of Pooled Unit (By Unit Owners). Each and every authorized document template you acquire is yours forever. To get one more version of the purchased type, visit the My Forms tab and then click the related option.

If you use the US Legal Forms site initially, follow the straightforward guidelines listed below:

  • Initial, make sure that you have selected the right document template for your state/metropolis of your liking. Browse the type explanation to make sure you have picked the correct type. If accessible, take advantage of the Preview option to look from the document template at the same time.
  • If you would like locate one more model of the type, take advantage of the Look for industry to find the template that meets your requirements and specifications.
  • Upon having located the template you need, just click Buy now to proceed.
  • Select the costs plan you need, type your references, and register for a merchant account on US Legal Forms.
  • Comprehensive the deal. You should use your charge card or PayPal profile to fund the authorized type.
  • Select the format of the document and down load it for your device.
  • Make alterations for your document if necessary. You are able to total, change and indicator and print Virgin Islands Dissolution of Pooled Unit (By Unit Owners).

Acquire and print a huge number of document themes making use of the US Legal Forms site, which provides the most important collection of authorized forms. Use specialist and condition-specific themes to deal with your organization or person requires.

Form popularity

FAQ

Non-Apportionment Rule The rule?followed in the majority of states?that royalties accruing under a lease on property that has been subdivided after the lease grant are not to be shared by the owners of the various subdivisions but belong exclusively to the owner of the subdivision where the producing well is located.

Even with a unitization clause, the lessee has an implied duty of good faith and fair dealing when pooling or unitizing a fee oil and gas lease.[4] This means that the lessee should be careful when attempting to commit a lease that is about to expire or includes non-productive lands, or when the lessee's economic ...

Example: Lessee shall have the right to unitize, pool, or combine all or any part of the leased premises with other lands in the same general area by entering into a cooperative or unit plan of development approved by any governmental authority.

Pooling is the combining of all oil and gas interests in a drilling unit. In most cases, the owners of oil and gas rights in a unit sign a lease with a developer that allows for pooling. If there is more than one developer in a unit, they voluntarily agree on a development plan.

Declaration of a Pooled Unit Such a document delineates what portions of the leases are included in a unit. It also places third parties on notice. ing to the terms of the leases, any production from the wells in the pooled unit must maintain underlying leases or portions if this is applicable.

One of the mechanisms used to minimize this dilution effect is the Anti-Dilution Clause. This clause requires the gas operator to include either the entire tract or a certain percentage of the landowner's acreage in any production unit.

The Mineral Interest Pooling Act (MIPA) is the Texas version of compulsory or mine that is the legislative response to the Normanna court decision. In brief, MIPA: Was enacted to encourage voluntary pooling. Allowed the RRC to compel pooling for separately owned tracts in the same field reservoir.

An example of a Surface Area Pugh Clause: ?Production from or operations on a pooled unit or units including a portion or portions of the leased premises will maintain this Lease in force only as to the acreage included in the unit or units.

Trusted and secure by over 3 million people of the world’s leading companies

Virgin Islands Dissolution of Pooled Unit (By Unit Owners)