Kentucky Legal Description and Well or Unit Information

• Category: Oil Gas and Minerals - Deeds
• State: Multi-State
• Control #: US-OG-1204
• Format: Word; Rich Text

Description

This form is used for legal description and well or unit information. Kentucky Legal Description: Kentucky Legal Description refers to a detailed legal description of a particular property or land parcel located within the state of Kentucky. It is an essential component of real estate transactions and serves to accurately identify the boundaries and dimensions of the property. The Kentucky Legal Description typically includes information such as: 1. Metes and Bounds: This type of legal description outlines the property boundaries using specified distances and angles from known reference points or landmarks. It typically starts at a designated point (point of beginning) and describes the property's boundaries in terms of compass directions and measured distances. 2. Lot and Block: Popularly used in subdivisions and platted areas, this type of legal description divides the land into individual lots and refers to them by lot numbers and blocks. It relies on recorded plats and maps to precisely identify the property, indicating its location within a specific subdivision or development. 3. Section, Township, and Range: This legal description method is based on the Public Land Survey System (PASS), a grid-based system used to divide land in many states, including Kentucky. It involves dividing the state into townships and ranges, further divided into sections. A legal description using this method would specify the section, township, and range in which the property is located. Well or Unit Information: In Kentucky, well or unit information is vital for the oil, gas, and mineral industry. It provides essential details about the drilling and production of oil and gas wells, including: 1. Well Information: This category covers information related to individual wells, such as well name, well number, drilling permits, well types (e.g., oil, gas, injection), well status (active, plugged, etc.), and coordinates (latitude and longitude). 2. Unit Information: The unit refers to a legally defined area encompassing multiple wells, usually designated for the extraction of oil, gas, or minerals from a shared underground reservoir. This information includes the unit name, unit size (in acres), participating well list, unitization agreement details, and operator information. 3. Well Logs and Reports: These documents provide comprehensive information about the geologic formations encountered during drilling, well depths, well tests results, production data, reservoir characteristics, and any issues or challenges faced during drilling or production. 4. Production Data: Contains data on the amount of oil, gas, or other minerals produced from the well or unit over a specific period. This information includes production rates, cumulative production volumes, and sometimes estimated reserves. 5. Regulatory Compliance: Well or unit information also includes data related to permits, inspections, environmental compliance, safety reports, and any regulatory requirements specific to oil, gas, or mineral exploration and production activities. By leveraging accurate Kentucky Legal Descriptions and Well or Unit Information, real estate professionals, landowners, and the oil and gas industry can effectively conduct transactions, manage properties, and ensure legal compliance in Kentucky.

Kentucky Legal Description: Kentucky Legal Description refers to a detailed legal description of a particular property or land parcel located within the state of Kentucky. It is an essential component of real estate transactions and serves to accurately identify the boundaries and dimensions of the property. The Kentucky Legal Description typically includes information such as: 1. Metes and Bounds: This type of legal description outlines the property boundaries using specified distances and angles from known reference points or landmarks. It typically starts at a designated point (point of beginning) and describes the property's boundaries in terms of compass directions and measured distances. 2. Lot and Block: Popularly used in subdivisions and platted areas, this type of legal description divides the land into individual lots and refers to them by lot numbers and blocks. It relies on recorded plats and maps to precisely identify the property, indicating its location within a specific subdivision or development. 3. Section, Township, and Range: This legal description method is based on the Public Land Survey System (PASS), a grid-based system used to divide land in many states, including Kentucky. It involves dividing the state into townships and ranges, further divided into sections. A legal description using this method would specify the section, township, and range in which the property is located. Well or Unit Information: In Kentucky, well or unit information is vital for the oil, gas, and mineral industry. It provides essential details about the drilling and production of oil and gas wells, including: 1. Well Information: This category covers information related to individual wells, such as well name, well number, drilling permits, well types (e.g., oil, gas, injection), well status (active, plugged, etc.), and coordinates (latitude and longitude). 2. Unit Information: The unit refers to a legally defined area encompassing multiple wells, usually designated for the extraction of oil, gas, or minerals from a shared underground reservoir. This information includes the unit name, unit size (in acres), participating well list, unitization agreement details, and operator information. 3. Well Logs and Reports: These documents provide comprehensive information about the geologic formations encountered during drilling, well depths, well tests results, production data, reservoir characteristics, and any issues or challenges faced during drilling or production. 4. Production Data: Contains data on the amount of oil, gas, or other minerals produced from the well or unit over a specific period. This information includes production rates, cumulative production volumes, and sometimes estimated reserves. 5. Regulatory Compliance: Well or unit information also includes data related to permits, inspections, environmental compliance, safety reports, and any regulatory requirements specific to oil, gas, or mineral exploration and production activities. By leveraging accurate Kentucky Legal Descriptions and Well or Unit Information, real estate professionals, landowners, and the oil and gas industry can effectively conduct transactions, manage properties, and ensure legal compliance in Kentucky.