This form creates an Area of Mutual Interest ( AMI ) comprising the Contract Area. During the term of this AMI, if any Party acquires all or any interest in any Oil and Gas Leases, any mineral interest, or any farmouts or other contracts which affect lands and minerals lying within the AMI, the Acquiring Party shall promptly advise each of the other Parties of the acquisition, at which time each Offeree shall have the right to acquire its proportionate interest in the Oil and Gas Interest.
The New Mexico Area of Mutual Interest (AMI) refers to a designated geographical region in the state of New Mexico that holds significant potential for resource exploration and development. This AMI status warrants cooperation and collaboration between multiple entities, ensuring that the area's resources are allocated and managed efficiently. One type of New Mexico AMI is the Oil and Gas AMI. It covers areas rich in oil and gas deposits that have attracted the attention of various energy companies and organizations. This AMI aims to facilitate joint ventures, sharing of technological expertise, and the pooling of resources among companies operating within the area. Companies involved in the Oil and Gas AMI in New Mexico are encouraged to share seismic data, drilling information, and breakthrough innovations to maximize exploration and production outcomes. Another type of AMI in New Mexico is the Renewable Energy AMI. With the state's abundant sunlight, strong winds, and vast open spaces, New Mexico is an attractive location for renewable energy projects. The Renewable Energy AMI promotes collaboration among renewable energy developers, researchers, and utility companies to identify suitable locations, develop sustainable energy infrastructure, and address environmental concerns. This AMI aims to accelerate the adoption of renewable energy sources such as solar, wind, and geothermal in New Mexico. Besides the Oil and Gas and Renewable Energy AMIS, there can be additional AMIS in New Mexico, depending on the specific interests and resources within a given geographic area. For example, an AMI focused on mining could encourage cooperation among mining companies to explore and exploit valuable mineral deposits. Similarly, an AMI for wildlife conservation could involve collaboration between conservation organizations and government agencies to protect and restore fragile ecosystems. In summary, the New Mexico Area of Mutual Interest encompasses various designated regions that possess significant resource potential. These areas are categorized into specific AMIS such as Oil and Gas, Renewable Energy, Mining, or Wildlife Conservation, where collaboration and knowledge sharing among stakeholders are encouraged to optimize resource exploration, development, and management.
