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.
The Kentucky Amendment to Pooled Unit Designation refers to a legal provision specific to the state of Kentucky, United States. It outlines the process and requirements for making amendments or modifications to the designation of pooled units in the context of oil and gas operations. In Kentucky, pooled units are used to efficiently extract oil and gas resources from a shared area or reservoir. These units combine multiple individual tracts of land or leases into a single unit for the purpose of exploration and production. Pooled units provide several advantages, such as consolidated operations, increased efficiency, and enhanced resource recovery. However, circumstances may arise where amendments or modifications to the existing pooled unit designation become necessary. The Kentucky Amendment to Pooled Unit Designation outlines the procedures, guidelines, and criteria under which such amendments can be made. These guidelines ensure fair and transparent decision-making processes while considering the interests of all parties involved. Different types of Kentucky Amendments to Pooled Unit Designation may include: 1. Expansion Amendments: These amendments involve the enlargement of the existing pooled unit to include additional tracts of land or leases. Expansion amendments may be requested due to the discovery of new oil or gas reserves in adjacent areas or to ensure better resource management. 2. Contraction Amendments: In contrast to expansion amendments, contraction amendments involve reducing the size of an existing pooled unit. This might be necessary to exclude certain unproductive or non-contiguous tracts of land, or to optimize production efficiency by focusing on the most productive sections. 3. Consolidation Amendments: When multiple smaller pooled units contain contiguous or overlapping areas, consolidation amendments aim to merge these units into a larger, more efficient unit. This streamlines operations, reduces administrative burden, and maximizes resource extraction potential. 4. Administrative Amendments: These amendments address administrative changes such as correcting errors, updating information, or modifying procedural aspects of the pooled unit designation. Administrative amendments ensure accuracy and compliance with regulatory requirements. To propose any of these types of amendments to a pooled unit designation in Kentucky, operators or interested parties typically submit an application or petition to the relevant regulatory body responsible for overseeing oil and gas activities. The application should include the relevant details, including the proposed changes, justifications, impact assessments, and any supporting information required. Overall, the Kentucky Amendment to Pooled Unit Designation plays a crucial role in facilitating efficient and effective resource extraction within the state, while balancing the interests of landowners, operators, and regulatory authorities. Adherence to the established guidelines ensures a fair and transparent process that contributes to responsible and sustainable oil and gas operations.
