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 Kansas Pooling Agreement Between Lessee and Royalty Owners on Two Tracts, With Depth Limitation is a legally binding contract that outlines the terms and conditions for the development and extraction of natural resources, such as oil and gas, in the state of Kansas. This agreement is specifically designed for situations where the lessee (the company or individual seeking to extract the resources) wants to pool the interests and rights of multiple royalty owners (individuals or entities who own a portion of the mineral rights on the two tracts of land). The agreement includes provisions that govern the sharing of costs, profits, and risks associated with the exploration and production processes. It outlines the specific details of the pooling arrangement, including the depth limitation, which restricts the lessee's access to resources beyond a certain depth. This depth limitation ensures that the pooling agreement does not interfere with other existing mineral rights or leases for deeper resources. Keywords: Kansas Pooling Agreement, Lessee, Royalty Owners, Two Tracts, Depth Limitation, Natural resources, Oil and Gas, Development, Extraction, Legally Binding Contract, Rights, Sharing of Costs, Profits, Risks, Exploration, Production, Pooling Arrangement, Access, Existing Mineral Rights, Leases. Different Types of Kansas Pooling Agreement Between Lessee and Royalty Owners on Two Tracts, With Depth Limitation: 1. Conventional Pooling Agreement: This type of agreement applies to conventional oil and gas reservoirs, where resources are extracted using traditional drilling methods. 2. Unconventional Pooling Agreement: This agreement is specific to unconventional resources, such as shale gas or tight oil, which require advanced drilling techniques, such as hydraulic fracturing (fracking). 3. Horizontal Pooling Agreement: This type of agreement is used when the lessee intends to drill horizontal wells that cross multiple tracts of land, and the depth limitation applies to the entire length of the horizontal section. 4. Vertical Pooling Agreement: This agreement is designed for vertical drilling operations where the depth limitation is applied to the vertical wells on the two tracts, allowing the lessee to access resources only within the specified depth range. 5. Limited Term Pooling Agreement: In cases where the lessee requires a temporary pooling arrangement for a specific duration, this type of agreement sets a time limit on the pooling operation, ensuring that the resources are extracted within a designated timeframe. 6. Enhanced Recovery Pooling Agreement: This agreement is utilized when enhanced recovery techniques, such as water flooding or gas injection, are employed to extract additional resources from the two tracts. The depth limitation here caters to the specific requirements of the enhanced recovery methods.
