This Designation is executed by the Operator and Working Interest Owners and filed of record for the purpose of evidencing their election to exercise the pooling authority granted to the lessees in the Leases, to give notice of the Unit being established, and to identify and describe the lands included in the Unit.
Wyoming Designation of Pooled Unit and Declaration of Pooling For Oil Or Gas refers to a legal document used in the state of Wyoming to establish the consolidation of oil or gas interests within specific land units. This process ensures efficient and organized extraction of resources from multiple small or irregularly shaped tracts of land. The Wyoming Designation of Pooled Unit enables operators to combine the individual ownership interests of various parties and create a unified unit for drilling and production purposes. This designation promotes responsible resource management, reduces surface footprint, and minimizes environmental disturbance. The Declaration of Pooling For Oil Or Gas is a critical component of the pooling process in Wyoming. It outlines the terms and conditions under which the interested parties agree to combine their respective oil or gas interests and access the shared resources. This agreement safeguards the rights of each party involved, specifying their ownership percentages, payment obligations, and other important provisions. There are several types of Wyoming Designation of Pooled Unit and Declaration of Pooling For Oil Or Gas, including: 1. Voluntary Pooling: This type of pooling occurs when the mineral rights holders voluntarily agree to combine their interests in optimal resource extraction. It requires the consent and agreement of all involved parties. 2. Compulsory Pooling: In certain circumstances, the Wyoming Oil and Gas Conservation Commission can enforce compulsory pooling. This typically happens when some mineral rights owners are unwilling to participate in voluntary pooling but would otherwise benefit from the resource extraction. 3. Geographical Unit Pooled: This type refers to the pooling of tracts of land within a specific geographical area. It allows for efficient drilling and resource extraction by consolidating scattered ownership interests. 4. Stratigraphic Unit Pooled: Stratigraphic pooling involves combining interests within a specific geological formation, allowing for the extraction of resources from different intervals or layers within a well bore. This increases operational efficiency and resource recovery. The Wyoming Designation of Pooled Unit and Declaration of Pooling For Oil Or Gas is crucial for ensuring the responsible and efficient extraction of oil and gas resources in the state. By combining ownership interests and consolidating drilling operations, this process maximizes resource recovery while minimizing environmental impact.
