This form is used when the Operator desires to amend the Designation of Pooled Unit, as permitted by the terms of the Leases included in the Unit, to (increase/reduce) the size of the Unit so that, on the Effective Date of this Amendment, the Unit will consist of a specific number of acres of land, which lands are to be depicted on a plat attached to this Amendment.
Travis Texas Amendment to Pooled Unit Designation is a legal provision that relates to the regulation and management of oil and gas exploration and production in Travis County, Texas. This amendment specifically addresses the designation of pooled units, which are created when multiple oil and gas leases are combined into a single unit for the purpose of efficient drilling and extraction operations. The Travis Texas Amendment to Pooled Unit Designation plays a critical role in ensuring fair and equitable distribution of production royalties among leaseholders within a pooled unit. It establishes the criteria and guidelines for determining the acreage, spacing, and allocation of production among the participating leases. One type of Travis Texas Amendment to Pooled Unit Designation is the "Pooled Unit Designation for Perforation Allocation." This type focuses on determining how the perforation, or the act of creating openings in the well bore to access oil and gas reservoirs, is allocated within the pooled unit. It outlines the factors that influence the distribution, such as the leasehold interests, well production capacity, and historical production records. Another type is the "Pooled Unit Designation for Royalty Allocation." This amendment specifically addresses the allocation of royalty payments among the leaseholders in the pooled unit. It considers various factors like leasehold interests, production volumes, and the governing mineral lease agreements to determine the fair share of royalties each party should receive. Furthermore, the Travis Texas Amendment to Pooled Unit Designation might include provisions related to the creation, modification, and termination of pooled units. It outlines the necessary steps and requirements for operators and leaseholders, including obtaining consent from affected parties, submitting applications to the appropriate regulatory bodies, and complying with public notice provisions. Overall, the Travis Texas Amendment to Pooled Unit Designation is an essential legal instrument for regulating oil and gas operations within Travis County. It ensures a fair and efficient exploration and production process, provides guidelines for the allocation of perforation and royalty interests, and addresses the creation and termination of pooled units. Leaseholders and operators must be aware of these provisions and their implications to navigate the complex landscape of oil and gas development in Travis County effectively.
