This form is used when the Operator desires to amend the Designation of Pooled Unit, as permitted by the terms of the Leases included in the Unit, to (increase/reduce) the size of the Unit so that, on the Effective Date of this Amendment, the Unit will consist of a specific number of acres of land, which lands are to be depicted on a plat attached to this Amendment.
Idaho Amendment to Pooled Unit Designation refers to a legal process in the state of Idaho that allows for the modification or alteration of the designation and boundaries of a pooled unit. A pooled unit, in the context of oil and gas exploration and production, is an area of land that combines multiple oil and gas leases or units into a single unit for efficient extraction and management purposes. The Idaho Amendment to Pooled Unit Designation enables operators or owners of oil and gas leases to propose modifications or changes to the existing unit boundaries, which may include additions or removals of leases within the unit. This amendment process is governed by the Idaho Oil and Gas Conservation Act and requires the submission of a formal application to the Idaho Oil and Gas Conservation Commission (LOGIC). The LOGIC is responsible for reviewing and approving these proposed amendments to ensure compliance with established regulations and to protect the interests of the state, mineral rights owners, and the public. There are several types of Idaho Amendment to Pooled Unit Designation that may be pursued, depending on the specific needs and circumstances of the operators or leaseholders. These include: 1. Expansion Amendment: This type of amendment seeks to enlarge an existing pooled unit by adding adjacent leases or tracts of land. Expansion may be requested due to the discovery of additional reserves or to increase the efficiency of operations for better resource extraction. 2. Contraction Amendment: In contrast to expansion, a contraction amendment aims to reduce the size of a pooled unit by excluding specific leases or tracts. This could be triggered by factors such as now or limited production from certain areas, expiration or relinquishment of leases, or changes in operational strategies. 3. Consolidation Amendment: A consolidation amendment involves merging two or more existing pooled units into a larger unit. This may be pursued to streamline operations, reduce administrative efforts, or optimize resource management. 4. Modification Amendment: This type of amendment covers changes to the boundaries and unit designation that do not fall under expansion, contraction, or consolidation. It could include adjusting the lines of a unit to account for new geological information, to optimize well spacing, or to address conflicts with surface land use. It is important to note that the Idaho Amendment to Pooled Unit Designation is a regulated process that follows specific guidelines and requires careful consideration of various factors. Operators or leaseholders must provide technical justifications, data, and any other relevant information to support their proposed amendments. Overall, the Idaho Amendment to Pooled Unit Designation allows for the flexible adaptation of pooled unit boundaries to align with changing operational demands, technological advances, or geological considerations, ensuring the efficient and responsible extraction of oil and gas resources in the state.Idaho Amendment to Pooled Unit Designation refers to a legal process in the state of Idaho that allows for the modification or alteration of the designation and boundaries of a pooled unit. A pooled unit, in the context of oil and gas exploration and production, is an area of land that combines multiple oil and gas leases or units into a single unit for efficient extraction and management purposes. The Idaho Amendment to Pooled Unit Designation enables operators or owners of oil and gas leases to propose modifications or changes to the existing unit boundaries, which may include additions or removals of leases within the unit. This amendment process is governed by the Idaho Oil and Gas Conservation Act and requires the submission of a formal application to the Idaho Oil and Gas Conservation Commission (LOGIC). The LOGIC is responsible for reviewing and approving these proposed amendments to ensure compliance with established regulations and to protect the interests of the state, mineral rights owners, and the public. There are several types of Idaho Amendment to Pooled Unit Designation that may be pursued, depending on the specific needs and circumstances of the operators or leaseholders. These include: 1. Expansion Amendment: This type of amendment seeks to enlarge an existing pooled unit by adding adjacent leases or tracts of land. Expansion may be requested due to the discovery of additional reserves or to increase the efficiency of operations for better resource extraction. 2. Contraction Amendment: In contrast to expansion, a contraction amendment aims to reduce the size of a pooled unit by excluding specific leases or tracts. This could be triggered by factors such as now or limited production from certain areas, expiration or relinquishment of leases, or changes in operational strategies. 3. Consolidation Amendment: A consolidation amendment involves merging two or more existing pooled units into a larger unit. This may be pursued to streamline operations, reduce administrative efforts, or optimize resource management. 4. Modification Amendment: This type of amendment covers changes to the boundaries and unit designation that do not fall under expansion, contraction, or consolidation. It could include adjusting the lines of a unit to account for new geological information, to optimize well spacing, or to address conflicts with surface land use. It is important to note that the Idaho Amendment to Pooled Unit Designation is a regulated process that follows specific guidelines and requires careful consideration of various factors. Operators or leaseholders must provide technical justifications, data, and any other relevant information to support their proposed amendments. Overall, the Idaho Amendment to Pooled Unit Designation allows for the flexible adaptation of pooled unit boundaries to align with changing operational demands, technological advances, or geological considerations, ensuring the efficient and responsible extraction of oil and gas resources in the state.
