In some jurisdictions (including Texas) an overriding royalty interest owners interest cannot be pooled without the overriding royalty owners consent. This form provides for the overriding royalty interest owner to ratify an existing pooling or unitization to allow the overriding royalty interest to participate in production
Lima Arizona Ratification and Consent to Pooling and/or Unitization by Overriding Royalty Interest Owner is a legal agreement that outlines the terms and conditions for the joining of mineral rights interests in Pima County, Arizona. This agreement is particularly important for overriding royalty interest owners who want to participate in the pooling and unitization of their interests in the extraction of oil, gas, or other minerals. In Pima County, there may be different types of Ratification and Consent to Pooling and/or Unitization agreements, depending on the specific circumstances and parties involved. Some possible variations include: 1. Lima Arizona Ratification and Consent to Pooling: This document focuses solely on the consent to pool mineral rights interests. It outlines the procedures, terms, and obligations of overriding royalty interest owners, allowing them to consolidate their interests with others for the purpose of efficient and coordinated extraction operations. 2. Lima Arizona Ratification and Consent to Unitization: This agreement is specific to the consent to unitize mineral rights interests. Unitization involves combining multiple tracts of land into a single unit or pool, managed and operated as a single entity. This agreement spells out the overriding royalty interest owners' rights, responsibilities, and compensation in the unitized operation. 3. Lima Arizona Ratification and Consent to Pooling and Unitization: This type of agreement incorporates both pooling and unitization aspects. It enables overriding royalty interest owners to consent to both the joining of their interests with others and the subsequent unitization of those consolidated rights. Keywords: Lima Arizona, Ratification and Consent, Pooling, Unitization, Overriding Royalty Interest Owner, minerals, extraction, oil, gas, mineral rights, agreement, consent, terms, obligations, joining interests, pooling procedures, unitization procedures, consolidation, efficient operations, combined tracts, single entity, managing and operating, compensation.
