This form is used when royalty owners are the owners of royalty and mineral interests in Tracts 1 and 2, subject to the terms of Lease 1 and Lease 2. Recognizing that each of the Royalty Owners may not own an Interest in both Tracts 1 and 2, or may not own an identical Interest in Tracts 1 and 2, it is their desire, together with Lessee, to pool and unitize these two Tracts for oil and gas operations.
The Maricopa Arizona Pooling Agreement Between Lessee and Royalty Owners on Two Tracts, With Depth Limitation is a legal contract that establishes the terms and conditions for the pooling of resources and the distribution of royalties between the lessee and royalty owners in Maricopa, Arizona. This agreement is specifically designed for situations where there are two tracts involved and a depth limitation in the pooling activities. Under this pooling agreement, the lessee (usually an oil or gas company) enters into a contractual arrangement with the royalty owners, who are usually the individuals or entities that own the rights to receive a portion of the profits from the production of oil or gas in a specific area. The purpose of the agreement is to consolidate the resources from the two tracts and maximize operational efficiency while ensuring fairness in the distribution of royalties. The depth limitation aspect of the agreement refers to a restriction on the pooling activities based on the depth at which the lessee can explore and extract resources from the tracts. This limitation is often imposed to protect the interests of the royalty owners and prevent potential damage to the environment or the underlying resources. It is important to note that there may be different types of Maricopa Arizona Pooling Agreement Between Lessee and Royalty Owners on Two Tracts, With Depth Limitation, depending on the specific terms outlined in the contract. Some possible variations may include: 1. Maricopa Arizona Pooling Agreement with Fixed Depth Limitation: This type of agreement establishes a specific depth threshold that the lessee cannot exceed when pooling resources from the two tracts. This limitation provides clarity and ensures that the lessee operates within the specified boundaries. 2. Maricopa Arizona Pooling Agreement with Variable Depth Limitation: In this variation, the depth limitation may vary depending on factors such as geological considerations, environmental concerns, or technological advancements. The agreement allows for adjustments in the depth limitation over time to accommodate any changing circumstances. 3. Maricopa Arizona Pooling Agreement with Time-limited Depth Limitation: This type of agreement imposes a depth limitation for a specific period, after which the lessee may gain access to greater depths or renegotiate the terms. Such agreements allow for flexibility and encourage the development of new extraction technologies. Overall, the Maricopa Arizona Pooling Agreement Between Lessee and Royalty Owners on Two Tracts, With Depth Limitation is a vital legal instrument that facilitates the efficient pooling of resources and equitable distribution of royalties in Maricopa, Arizona. It ensures that all parties involved benefit from the production of oil or gas while adhering to environmental and operational limitations set forth in the agreement.The Maricopa Arizona Pooling Agreement Between Lessee and Royalty Owners on Two Tracts, With Depth Limitation is a legal contract that establishes the terms and conditions for the pooling of resources and the distribution of royalties between the lessee and royalty owners in Maricopa, Arizona. This agreement is specifically designed for situations where there are two tracts involved and a depth limitation in the pooling activities. Under this pooling agreement, the lessee (usually an oil or gas company) enters into a contractual arrangement with the royalty owners, who are usually the individuals or entities that own the rights to receive a portion of the profits from the production of oil or gas in a specific area. The purpose of the agreement is to consolidate the resources from the two tracts and maximize operational efficiency while ensuring fairness in the distribution of royalties. The depth limitation aspect of the agreement refers to a restriction on the pooling activities based on the depth at which the lessee can explore and extract resources from the tracts. This limitation is often imposed to protect the interests of the royalty owners and prevent potential damage to the environment or the underlying resources. It is important to note that there may be different types of Maricopa Arizona Pooling Agreement Between Lessee and Royalty Owners on Two Tracts, With Depth Limitation, depending on the specific terms outlined in the contract. Some possible variations may include: 1. Maricopa Arizona Pooling Agreement with Fixed Depth Limitation: This type of agreement establishes a specific depth threshold that the lessee cannot exceed when pooling resources from the two tracts. This limitation provides clarity and ensures that the lessee operates within the specified boundaries. 2. Maricopa Arizona Pooling Agreement with Variable Depth Limitation: In this variation, the depth limitation may vary depending on factors such as geological considerations, environmental concerns, or technological advancements. The agreement allows for adjustments in the depth limitation over time to accommodate any changing circumstances. 3. Maricopa Arizona Pooling Agreement with Time-limited Depth Limitation: This type of agreement imposes a depth limitation for a specific period, after which the lessee may gain access to greater depths or renegotiate the terms. Such agreements allow for flexibility and encourage the development of new extraction technologies. Overall, the Maricopa Arizona Pooling Agreement Between Lessee and Royalty Owners on Two Tracts, With Depth Limitation is a vital legal instrument that facilitates the efficient pooling of resources and equitable distribution of royalties in Maricopa, Arizona. It ensures that all parties involved benefit from the production of oil or gas while adhering to environmental and operational limitations set forth in the agreement.
