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.
A San Antonio Texas pooling agreement between lessee and royalty owners on two tracts with depth limitation refers to a legal contract that outlines the collaboration between a lessee (typically an oil or gas company) and multiple royalty owners to develop and extract resources from two specific tracts of land, restricting the depth of operations. Pooling agreements are commonly utilized in the oil and gas industry to effectively explore and extract natural resources from multiple properties within a specified geographical area. In a San Antonio context, these agreements serve to ensure efficient and coordinated resource extraction in compliance with local regulations and guidelines. The pooling agreement involves the collaboration between the lessee, who holds the operational rights, and the royalty owners, who own the mineral rights on their respective tracts. This agreement enables the lessee to combine and integrate the resources and operations of the two tracts to maximize overall production and cost-effectiveness. With depth limitation safeguards in place, the pooling agreement stipulates a specific depth or range of depths within which the lessee is authorized to explore and extract resources. This limitation is imposed to protect the interests of both the lessor and the community, ensuring responsible resource management and environmental conservation. Different types of San Antonio Texas pooling agreements between lessee and royalty owners may vary based on specific factors, such as the size and location of the tracts, depth limitations imposed, and the duration of the agreement. Some variations may include: 1. Time-limited Pooling Agreement: This type of pooling agreement allows the lessee to extract resources from the two tracts for a predetermined period. After the specified term expires, the agreement may be renegotiated or terminated. 2. Fixed-depth Pooling Agreement: In this scenario, the pooling agreement establishes a specific depth or range of depths at which the lessee is authorized to operate. Operations beyond this depth are not covered by the agreement and would require separate approvals or agreements. 3. Hybrid Pooling Agreement: This type of agreement combines elements from the time-limited and fixed-depth agreements, allowing the lessee to operate within a specific depth range for a defined period. In summary, a San Antonio Texas pooling agreement between lessee and royalty owners on two tracts with depth limitation serves as a legally binding document that outlines the collaboration and operational guidelines between a lessee and multiple royalty owners. By pooling resources and coordinating operations within set depth limits, the agreement facilitates responsible and efficient resource extraction while safeguarding the interests of all parties involved.A San Antonio Texas pooling agreement between lessee and royalty owners on two tracts with depth limitation refers to a legal contract that outlines the collaboration between a lessee (typically an oil or gas company) and multiple royalty owners to develop and extract resources from two specific tracts of land, restricting the depth of operations. Pooling agreements are commonly utilized in the oil and gas industry to effectively explore and extract natural resources from multiple properties within a specified geographical area. In a San Antonio context, these agreements serve to ensure efficient and coordinated resource extraction in compliance with local regulations and guidelines. The pooling agreement involves the collaboration between the lessee, who holds the operational rights, and the royalty owners, who own the mineral rights on their respective tracts. This agreement enables the lessee to combine and integrate the resources and operations of the two tracts to maximize overall production and cost-effectiveness. With depth limitation safeguards in place, the pooling agreement stipulates a specific depth or range of depths within which the lessee is authorized to explore and extract resources. This limitation is imposed to protect the interests of both the lessor and the community, ensuring responsible resource management and environmental conservation. Different types of San Antonio Texas pooling agreements between lessee and royalty owners may vary based on specific factors, such as the size and location of the tracts, depth limitations imposed, and the duration of the agreement. Some variations may include: 1. Time-limited Pooling Agreement: This type of pooling agreement allows the lessee to extract resources from the two tracts for a predetermined period. After the specified term expires, the agreement may be renegotiated or terminated. 2. Fixed-depth Pooling Agreement: In this scenario, the pooling agreement establishes a specific depth or range of depths at which the lessee is authorized to operate. Operations beyond this depth are not covered by the agreement and would require separate approvals or agreements. 3. Hybrid Pooling Agreement: This type of agreement combines elements from the time-limited and fixed-depth agreements, allowing the lessee to operate within a specific depth range for a defined period. In summary, a San Antonio Texas pooling agreement between lessee and royalty owners on two tracts with depth limitation serves as a legally binding document that outlines the collaboration and operational guidelines between a lessee and multiple royalty owners. By pooling resources and coordinating operations within set depth limits, the agreement facilitates responsible and efficient resource extraction while safeguarding the interests of all parties involved.
