This form is used to promote conservation, increase the ultimate recovery of Unitized Substances of the specified lands and to protect the rights of the owners, it is deemed necessary and desirable to enter this Agreement, in conformity with (Applicable State Statute), to unitize the oil and gas rights in the Unitized Formation in order to conduct Unit operations for the conservation and utilization of Unitized Substances as provided in this Agreement.
North Carolina Unitization Agreement
State:
Multi-State
Control #:
US-OG-776
Format:
Word;
Rich Text
Instant download
Description
Free preview
How to fill out Unitization Agreement?
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FAQ
Unitization is a process in which two or more operating companies combine their interests in a single unitized area, allowing them to operate their wells together. Texas' standards include determining the boundaries of the unitized area and how production will be divided amongst the participating companies.
Unitization is the act of consolidating multiple smaller units into a larger unit for improved warehouse efficiency, quicker packaging and arranging, and more efficient handling and transportation.
Unitization is the act of consolidating multiple smaller units into a larger unit for improved warehouse efficiency, quicker packaging and arranging, and more efficient handling and transportation.