What is unitization in oil and gas?

When an oil and gas field is unitized, the various owners of the tracts above the reservoir work together to extract the reservoir's oil and gas. The Unitization Agreement aims to protect the interests of all parties involved while also avoiding some legal pitfalls.

US Legal Forms
Spec Forms
Wyoming
Unit Agreement and Plan of Unitization

Wyoming Unit Agreement and Plan of Unitization

Category:

Oil Gas and Minerals - Pooling and Unitization

State:

Multi-State

Control #:

US-OG-738

Format:

Instant download

Description

This Agreement is entered into, between the parties subscribing, ratifying, or consenting to it. The Parties are the owners of working, royalty, or other oil and gas interests in the Unit Area subject to this Agreement.

The Mineral Leasing Act of February 25, 1920, 41 Stat. 437, as amended, 30 U.S.C., Secs. 181 et seq., authorizes Federal lessees and their representatives to unite with each other, or jointly or separately with others, in collectively adopting and operating a cooperative or unit plan of development or operation of all or any part of any oil or gas pool, field, or like area, for the purposes of more properly conserving the natural resources whenever determined and certified by the Secretary of the Interior of the United States, to be necessary or advisable in the public interest.

Pennsylvania Independent Contractor Agreement with Church

View this form

Rhode Island Independent Contractor Agreement with Church

View this form

South Carolina Independent Contractor Agreement with Church

View this form

South Dakota Independent Contractor Agreement with Church

View this form

Tennessee Independent Contractor Agreement with Church

View this form

Clause Dealing with the Installation Maint...

View this form

Multiple Defendants - Single Count

View this form

Withhold Issuance of Service of Process Re...

View this form

Clause Dealing with the Installation Maint...

View this form

General Bid Proposal Form

View this form

Discovery Interrogatories from Plaintiff t...

View this form

Sample Letter for Employee Requesting Rele...

View this form

Exit Interview Review

View this form

Dealing in Explosive Materials Without Lic...

View this form

Master Escrow Source Code Master Agreement

View this form

How to fill out Unit Agreement And Plan Of Unitization?

Are you presently in the position the place you need to have documents for either organization or specific reasons just about every time? There are tons of legitimate file templates available on the net, but getting kinds you can depend on is not simple. US Legal Forms provides a large number of form templates, like the Wyoming Unit Agreement and Plan of Unitization, which can be composed to fulfill state and federal specifications.

If you are currently familiar with US Legal Forms web site and have a merchant account, just log in. Next, you are able to obtain the Wyoming Unit Agreement and Plan of Unitization web template.

Unless you offer an bank account and want to start using US Legal Forms, abide by these steps:

Get the form you require and ensure it is for that correct area/area.
Use the Preview option to review the form.
Look at the outline to ensure that you have selected the proper form.
When the form is not what you are seeking, take advantage of the Lookup industry to discover the form that meets your needs and specifications.
Whenever you discover the correct form, simply click Buy now.
Pick the rates program you desire, fill in the desired information and facts to generate your account, and pay for the transaction making use of your PayPal or Visa or Mastercard.
Decide on a handy data file formatting and obtain your version.

Get all the file templates you possess bought in the My Forms menu. You may get a additional version of Wyoming Unit Agreement and Plan of Unitization anytime, if necessary. Just go through the required form to obtain or print out the file web template.

Use US Legal Forms, probably the most substantial collection of legitimate varieties, to save lots of some time and prevent mistakes. The assistance provides professionally created legitimate file templates which can be used for a variety of reasons. Produce a merchant account on US Legal Forms and begin creating your life easier.

Form popularity

FAQ

When an oil and gas field is unitized, the various owners of the tracts above the reservoir work together to extract the reservoir's oil and gas. The Unitization Agreement aims to protect the interests of all parties involved while also avoiding some legal pitfalls.

Since its 1889 discovery, Salt Creek field has produced more than 737 million barrels of oil from its estimated 1,680 million barrels of oil originally in place. Quealy field was the first field in the Rocky Mountain region to be discovered using seismic methods.

Wyoming Inland Rig Count is at a current level of 17.00, down from 18.00 last week and down from 23.00 one year ago. This is a change of -5.56% from last week and -26.09% from one year ago.

Conventional formations are reservoir rocks, typically sandstones or carbonates, with sufficient porosity to store hydrocarbons that have migrated upward out of source rock, typically an organic-rich, black shale, which is where the hydrocarbons were formed (kind of like a kitchen).

A unit agreement entails a BLM-approved agreement to cooperate in all facets of oil and gas production, without regard to lease boundaries and ownership. All unit agreements are subject to Onshore Oil and Gas Operations regulations (43 CFR Part 3160).

Primary oil production is from the Upper Cretaceous Frontier Formation and Mesaverde Group, followed by the Lower Cretaceous Cloverly Formation. (The Cloverly Formation is often called the "Dakota Sandstone" by the hydrocarbon industry, which is an informal name borrowed from neighboring states.

(a) The ownership of all pore space in all strata below the surface lands and waters of this state is declared to be vested in the several owners of the surface above the strata.

The prolific Jonah, Pinedale, and Wamsutter fields are Wyoming's largest tight gas reservoirs. Shale oil is oil locked in shales and associated tight siltstones or carbonates, all of which have low permeability and porosity. Examples from Wyoming include the Niobrara Shale and Green River Formation.