This form is used for the purposes of more effectively developing, producing, and operating the Unit Area in order to prevent surface and underground waste, and obtain the greatest ultimate recovery of production of oil and gas, promote conservation, and to afford each of the Parties the right to recover their fair and equitable share of the production to be obtained from the Unit Area, or to receive the attributable proceeds of such production.
Wyoming Gas Storage and Secondary Recovery Unit Agreement is a legally binding contract that governs the terms and conditions for the storage and secondary recovery of natural gas in the state of Wyoming, United States. This agreement is crucial in facilitating the extraction, transportation, and management of natural gas resources, ensuring their efficient utilization and long-term sustainability. The Wyoming Gas Storage and Secondary Recovery Unit Agreement typically involves multiple parties, including natural gas producers, storage facility operators, secondary recovery operators, and regulatory authorities. It outlines the rights, obligations, and responsibilities of each party involved in the agreement. Under this agreement, natural gas producers allocate a certain portion of their gas production to storage facilities in Wyoming. These storage facilities, often underground reservoirs or depleted oil and gas fields, then store the allocated gas for future use or to meet high-demand periods, such as during winter seasons or energy shortages. The secondary recovery aspect of the agreement focuses on the extraction of additional natural gas and petroleum liquids from existing fields. This process involves injecting various substances, such as water or carbon dioxide, into the reservoirs to enhance hydrocarbon recovery rates. The secondary recovery operators play a significant role in implementing these techniques and maximizing the extraction of resources from mature oil and gas fields. Different types of Wyoming Gas Storage and Secondary Recovery Unit Agreements may exist based on various factors, such as the size and capacity of the storage facility, the specific reservoir characteristics, and the secondary recovery techniques employed. Some common types may include: 1. Depleted Reservoir Storage Agreement: This type of agreement involves utilizing depleted oil or gas reservoirs for natural gas storage, leveraging the existing geological formations and infrastructure. 2. Aquifer Storage Agreement: It pertains to utilizing underground aquifers as storage facilities for natural gas, where the gas is injected and stored in the water-bearing formations. 3. Salt Cavern Storage Agreement: In this agreement, natural gas is stored in underground salt caverns, which provide secure and high-capacity storage options due to their impermeable and structurally stable nature. 4. Carbon Dioxide Enhanced Oil Recovery (CO2 FOR) Agreement: This type of agreement focuses on the injection of carbon dioxide into oil reservoirs to maximize oil recovery, while simultaneously storing the CO2 underground, aiding in greenhouse gas emission reduction. In summary, Wyoming Gas Storage and Secondary Recovery Unit Agreement is a comprehensive contract that outlines the terms and processes involved in storing natural gas and implementing secondary recovery techniques in Wyoming. It ensures the efficient utilization and management of natural gas resources, fostering sustainable energy practices while meeting the energy demands of the region.
