This declaration is used when a unit operator desires to supplement and amend a Declaration of Pooled Unit to include in the unit the oil, gas and mineral leases described in Exhibit A to this Supplement, covering lands within the confines of the Unit Area.
The Kansas Supplemental Declaration of Pooled Unit is a legal document that is utilized within the oil and gas industry in the state of Kansas. This declaration serves to establish the framework and guidelines for the creation and operation of a pooled unit, which refers to the consolidation of multiple oil and gas leases or tracts of land into a single unit for exploration and production purposes. The pooling of these individual leases allows for efficient and cost-effective extraction of hydrocarbon resources. The Kansas Supplemental Declaration of Pooled Unit outlines various important aspects pertaining to the pooled unit, including the participating owners, the allocated ownership interests, the rights and responsibilities of each owner, and the rules governing the operation and development of the unit. By clarifying the ownership structure and operational guidelines, this declaration aims to prevent conflicts and disputes among the owners and ensure the efficient and equitable exploration and production of oil and gas resources. Different types or variations of the Kansas Supplemental Declaration of Pooled Unit may exist based on specific circumstances or requirements. For example, there can be declarations tailored according to the type of hydrocarbon resource being pooled, such as oil-only pooled units or gas-only pooled units. Additionally, variations may be seen based on the geographical location or geological characteristics of the pooled area, as different areas may have unique regulations or considerations. Keywords: Kansas Supplemental Declaration of Pooled Unit, oil and gas industry, consolidation, exploration, production, leases, tracts of land, hydrocarbon resources, participating owners, ownership interests, rights and responsibilities, operation and development, conflicts, disputes, equitable, variations, oil-only, gas-only, geographical location, geological characteristics, regulations, considerations.
