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 pooling agreement in Arizona is a legally binding contract that allows multiple royalty owners and a lessee to combine their interests in two tracts of land for the purposes of oil and gas exploration and production. This agreement is particularly beneficial when the individual tracts are too small or fragmented to be developed independently. The Arizona pooling agreement between lessee and royalty owners on two tracts with depth limitation outlines the terms and conditions under which the lessee is granted access to the two tracts in order to extract oil or gas resources. It also includes specific provisions that restrict the depth at which drilling and extraction activities can be conducted. The primary objective of the pooling agreement is to promote efficient, systematic, and economic development of the oil and gas resources in Arizona. By pooling their interests, the royalty owners and lessee can minimize costs, maximize the recovery of resources, and avoid duplicate drilling operations. Keywords: Arizona pooling agreement, lessee, royalty owners, two tracts, depth limitation, oil and gas exploration, production, fragmented tracts, oil and gas resources, drilling operations, economic development, maximize recovery, minimize costs. Different types of Arizona pooling agreements between lessee and royalty owners on two tracts, with depth limitation, can be categorized based on various factors such as the specific language used in the agreement, the extent of depth limitations, and the duration of the pooling arrangement. Some potential variations may include: 1. Standard Arizona Pooling Agreement: This is a basic pooling agreement that outlines the general terms and conditions for pooling two tracts of land with a depth limitation. It includes provisions for royalty sharing, operational responsibilities, and the permitted depth for extraction activities. 2. Customized Arizona Pooling Agreement: This type of agreement is tailored to the specific needs and requirements of the parties involved. It may include additional clauses or alterations to suit individual circumstances, such as unique depth limitations or provisions for alternative energy resources. 3. Temporary Arizona Pooling Agreement: In certain situations, parties may enter into a pooling agreement with a predetermined expiration date. This arrangement allows for the temporary pooling of resources and enables the parties to reassess the agreement at a later stage. 4. Enhanced Depth Limitation Arizona Pooling Agreement: Some agreements may have enhanced depth limitations, which restrict drilling activities to a narrower range of depths. This can be due to geological considerations, environmental concerns, or regulatory requirements. 5. Arizona Pooling Agreement with Multiple Lessees: In cases where there are multiple lessees involved in the pooling arrangement, the agreement may contain additional provisions to coordinate their activities and responsibilities, ensuring efficient resource extraction and fair distribution of royalties. Remember, these variations are hypothetical examples, and the exact types and names of Arizona pooling agreements between lessee and royalty owners on two tracts, with depth limitation, may vary based on the specific circumstances and requirements of the parties involved.A pooling agreement in Arizona is a legally binding contract that allows multiple royalty owners and a lessee to combine their interests in two tracts of land for the purposes of oil and gas exploration and production. This agreement is particularly beneficial when the individual tracts are too small or fragmented to be developed independently. The Arizona pooling agreement between lessee and royalty owners on two tracts with depth limitation outlines the terms and conditions under which the lessee is granted access to the two tracts in order to extract oil or gas resources. It also includes specific provisions that restrict the depth at which drilling and extraction activities can be conducted. The primary objective of the pooling agreement is to promote efficient, systematic, and economic development of the oil and gas resources in Arizona. By pooling their interests, the royalty owners and lessee can minimize costs, maximize the recovery of resources, and avoid duplicate drilling operations. Keywords: Arizona pooling agreement, lessee, royalty owners, two tracts, depth limitation, oil and gas exploration, production, fragmented tracts, oil and gas resources, drilling operations, economic development, maximize recovery, minimize costs. Different types of Arizona pooling agreements between lessee and royalty owners on two tracts, with depth limitation, can be categorized based on various factors such as the specific language used in the agreement, the extent of depth limitations, and the duration of the pooling arrangement. Some potential variations may include: 1. Standard Arizona Pooling Agreement: This is a basic pooling agreement that outlines the general terms and conditions for pooling two tracts of land with a depth limitation. It includes provisions for royalty sharing, operational responsibilities, and the permitted depth for extraction activities. 2. Customized Arizona Pooling Agreement: This type of agreement is tailored to the specific needs and requirements of the parties involved. It may include additional clauses or alterations to suit individual circumstances, such as unique depth limitations or provisions for alternative energy resources. 3. Temporary Arizona Pooling Agreement: In certain situations, parties may enter into a pooling agreement with a predetermined expiration date. This arrangement allows for the temporary pooling of resources and enables the parties to reassess the agreement at a later stage. 4. Enhanced Depth Limitation Arizona Pooling Agreement: Some agreements may have enhanced depth limitations, which restrict drilling activities to a narrower range of depths. This can be due to geological considerations, environmental concerns, or regulatory requirements. 5. Arizona Pooling Agreement with Multiple Lessees: In cases where there are multiple lessees involved in the pooling arrangement, the agreement may contain additional provisions to coordinate their activities and responsibilities, ensuring efficient resource extraction and fair distribution of royalties. Remember, these variations are hypothetical examples, and the exact types and names of Arizona pooling agreements between lessee and royalty owners on two tracts, with depth limitation, may vary based on the specific circumstances and requirements of the parties involved.
