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.
Alabama Area of Mutual Interest (AMI) refers to a designated geographical area within the state of Alabama where multiple parties, typically oil and gas companies, collaborate and jointly explore and develop oil and gas resources. The concept of AMI promotes cooperation, reduces redundancy, and maximizes the efficient utilization of resources in the exploration and production process. Keywords: Alabama, Area of Mutual Interest, exploration, development, oil and gas, collaboration, resources, cooperation, redundancy, efficient utilization Different types of Alabama Area of Mutual Interest include: 1. Onshore AMI: This type of AMI focuses on exploring and developing oil and gas resources within the land areas of Alabama. It encompasses various regions, including the Black Warrior Basin, Gulf Coastal Plain, Cumberland Plateau, and Appalachian Plateau. 2. Offshore AMI: Offshore AMI involves the collaborative exploration and development of oil and gas resources in the waters off the Alabama coast. This includes the Gulf of Mexico and its associated federal and state waters. 3. Conventional AMI: Conventional AMIS relate to the exploration and production of oil and gas from conventional reservoirs, such as sandstone, limestone, or shale formations, where resources can be easily extracted using traditional drilling methods. 4. Unconventional AMI: Unconventional AMIS focus on exploring and developing oil and gas resources from unconventional reservoirs, which require advanced extraction techniques like hydraulic fracturing (fracking). These resources are typically trapped in tight shale formations, such as the Tuscaloosa Marine Shale or Hartnell Sandstone. 5. Technical AMI: In a technical AMI, oil and gas companies collaborate and pool their technical expertise, knowledge, and resources to overcome common challenges related to exploration, drilling, and production operations. This type of AMI often involves sharing data, research, and technology to enhance efficiency and success rates. 6. Commercial AMI: Commercial AMIS involve negotiations and agreements between companies to delineate ownership rights, interests, and financial arrangements within the designated area of mutual interest. Companies work together to strike fair deals, share costs, and allocate profits based on participation and investment levels. Overall, Alabama Area of Mutual Interest plays a crucial role in fostering collaboration and optimizing the exploration and development of oil and gas resources. It facilitates the sharing of information, reduces costs, and encourages technological advancements, leading to more efficient and sustainable exploration and production activities within the state.Alabama Area of Mutual Interest (AMI) refers to a designated geographical area within the state of Alabama where multiple parties, typically oil and gas companies, collaborate and jointly explore and develop oil and gas resources. The concept of AMI promotes cooperation, reduces redundancy, and maximizes the efficient utilization of resources in the exploration and production process. Keywords: Alabama, Area of Mutual Interest, exploration, development, oil and gas, collaboration, resources, cooperation, redundancy, efficient utilization Different types of Alabama Area of Mutual Interest include: 1. Onshore AMI: This type of AMI focuses on exploring and developing oil and gas resources within the land areas of Alabama. It encompasses various regions, including the Black Warrior Basin, Gulf Coastal Plain, Cumberland Plateau, and Appalachian Plateau. 2. Offshore AMI: Offshore AMI involves the collaborative exploration and development of oil and gas resources in the waters off the Alabama coast. This includes the Gulf of Mexico and its associated federal and state waters. 3. Conventional AMI: Conventional AMIS relate to the exploration and production of oil and gas from conventional reservoirs, such as sandstone, limestone, or shale formations, where resources can be easily extracted using traditional drilling methods. 4. Unconventional AMI: Unconventional AMIS focus on exploring and developing oil and gas resources from unconventional reservoirs, which require advanced extraction techniques like hydraulic fracturing (fracking). These resources are typically trapped in tight shale formations, such as the Tuscaloosa Marine Shale or Hartnell Sandstone. 5. Technical AMI: In a technical AMI, oil and gas companies collaborate and pool their technical expertise, knowledge, and resources to overcome common challenges related to exploration, drilling, and production operations. This type of AMI often involves sharing data, research, and technology to enhance efficiency and success rates. 6. Commercial AMI: Commercial AMIS involve negotiations and agreements between companies to delineate ownership rights, interests, and financial arrangements within the designated area of mutual interest. Companies work together to strike fair deals, share costs, and allocate profits based on participation and investment levels. Overall, Alabama Area of Mutual Interest plays a crucial role in fostering collaboration and optimizing the exploration and development of oil and gas resources. It facilitates the sharing of information, reduces costs, and encourages technological advancements, leading to more efficient and sustainable exploration and production activities within the state.
