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.

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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.

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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.