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 pooling agreement is a contract entered into between a lessee (typically an oil and gas company) and royalty owners on two tracts of land in Louisiana. This agreement allows for the consolidation of the two tracts' mineral rights, often with a depth limitation. In Louisiana, there are various types of pooling agreements between lessees and royalty owners on two tracts, with depth limitations. These agreements may include: 1. Traditional Pooling Agreement: This type of agreement allows for the combining of mineral rights from two separate tracts, with a specified depth limitation. The lessee can extract oil and gas only from the agreed-upon depths, maximizing efficiency and reducing the cost of operations. 2. Restricted Depth Pooling Agreement: In this type of pooling agreement, the lessee and royalty owners establish specific depth limitations to protect shallow formations or other geological features of importance. This allows for the preservation of valuable resources while still enabling extraction from deeper formations. 3. Zone-Specific Pooling Agreement: A zone-specific pooling agreement is designed to focus on a particular geological zone or formation, where the lessee and royalty owners agree to pool their interests exclusively within that zone. This type of agreement allows for targeted exploration and production activities while providing maximum cooperation and resource utilization. 4. Deep Pooling Agreement: A deep pooling agreement is formed when the lessee and royalty owners agree to consolidate their mineral rights solely for developing resources at greater depths. This agreement may facilitate the exploration and extraction of hydrocarbons from deep reservoirs or unconventional formations. Keywords: — Louisiana poolinagreementen— - Lessee and royalty owners — Two tract— - Depth limitation - Oil and gas extraction — Mineral rightconsolidationio— - Traditional pooling agreement — Restricted depth poolinagreementen— - Zone-specific pooling agreement — Deep poolinagreementen— - Resource utilization — Hydrocarbon exploration and extractionA pooling agreement is a contract entered into between a lessee (typically an oil and gas company) and royalty owners on two tracts of land in Louisiana. This agreement allows for the consolidation of the two tracts' mineral rights, often with a depth limitation. In Louisiana, there are various types of pooling agreements between lessees and royalty owners on two tracts, with depth limitations. These agreements may include: 1. Traditional Pooling Agreement: This type of agreement allows for the combining of mineral rights from two separate tracts, with a specified depth limitation. The lessee can extract oil and gas only from the agreed-upon depths, maximizing efficiency and reducing the cost of operations. 2. Restricted Depth Pooling Agreement: In this type of pooling agreement, the lessee and royalty owners establish specific depth limitations to protect shallow formations or other geological features of importance. This allows for the preservation of valuable resources while still enabling extraction from deeper formations. 3. Zone-Specific Pooling Agreement: A zone-specific pooling agreement is designed to focus on a particular geological zone or formation, where the lessee and royalty owners agree to pool their interests exclusively within that zone. This type of agreement allows for targeted exploration and production activities while providing maximum cooperation and resource utilization. 4. Deep Pooling Agreement: A deep pooling agreement is formed when the lessee and royalty owners agree to consolidate their mineral rights solely for developing resources at greater depths. This agreement may facilitate the exploration and extraction of hydrocarbons from deep reservoirs or unconventional formations. Keywords: — Louisiana poolinagreementen— - Lessee and royalty owners — Two tract— - Depth limitation - Oil and gas extraction — Mineral rightconsolidationio— - Traditional pooling agreement — Restricted depth poolinagreementen— - Zone-specific pooling agreement — Deep poolinagreementen— - Resource utilization — Hydrocarbon exploration and extraction
