Maine Designation of Successor Operator, Communitization Agreement

State:
Multi-State
Control #:
US-OG-729
Format:
Word; 
Rich Text
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Description

This form is used for the Designation of a Successor Operator pursuant to a specified Section of a Communitization Agreement. First Party is designated by Second Parties as Operator of the communitized area, and First Party desires to assume all the rights, duties, and obligations of Operator under the Communitization Agreement.



This Agreement is incorporated into this Designation by reference and made a part of it as fully and effectively as though the Agreement were expressly set forth in this Designation.

Maine Designation of Successor Operator is a legally binding agreement that designates a new operator for a designated oil or gas field in the state of Maine. This designation becomes effective when the current operator is no longer capable or willing to continue operations. The purpose of the Maine Designation of Successor Operator is to ensure a smooth transition of responsibilities and operations in oil and gas fields, allowing for uninterrupted production and compliance with applicable regulations. This agreement defines the specific conditions and requirements that need to be met for a party to become the successor operator. The Maine Designation of Successor Operator agreement is essential for maintaining the ongoing production and development of oil and gas resources in the state. It is crucial for safeguarding the economic interests of stakeholders and ensuring the safe and efficient operation of oil and gas fields. Along with the Maine Designation of Successor Operator, another relevant term is the Commoditization Agreement. This agreement allows for the consolidation of multiple oil or gas leases or units within a specific geographic area into a single cohesive unit known as a community. The Commoditization Agreement aims to maximize the efficiency of resource extraction and streamline administrative processes by treating the consolidated leases or units as a single entity. Different types of Maine Designation of Successor Operator agreements include: 1. Forced Successor Operator Designation Agreement: This type of agreement is initiated when the current operator's capabilities become insufficient or when they fail to fulfill their obligations. It allows an interested party to request the Maine Government to designate a new operator so that operations can continue seamlessly. 2. Voluntary Successor Operator Designation Agreement: This agreement is entered into voluntarily by the existing operator and a designated successor operator. It may arise due to the retirement, acquisition, or other circumstances where the current operator believes it is in their best interest to designate a successor to continue operations. 3. Emergency Successor Operator Designation Agreement: This agreement is activated in case of emergencies such as natural disasters, accidents, or sudden financial instability of the current operator. It allows for the rapid designation of a new operator to ensure continued operation and prevent any further damage or disruption. In summary, the Maine Designation of Successor Operator, along with the Commoditization Agreement, are crucial components of oil and gas operations in the state. These agreements help maintain the smooth transfer of responsibility, streamline administrative processes, and ensure the efficient and safe extraction of valuable resources.

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FAQ

§ 3217.11 What are communitization agreements? Under communitization agreements (also called drilling agreements), operators who cannot independently develop separate tracts due to well-spacing or well development programs may cooperatively develop such tracts.

1. n. [Oil and Gas Business] The combining of smaller federal tracts of land to total the acreage required by the US Bureau of Land Management and/or state regulations to form a legal spacing and proration unit.

A unit agreement entails a BLM-approved agreement to cooperate in all facets of oil and gas production, without regard to lease boundaries and ownership. All unit agreements are subject to Onshore Oil and Gas Operations regulations (43 CFR Part 3160).

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Whereas the designation of a successor operator is now desired pursuant to section No. 3 of the communitization agreement; and. Whereas the First Party has ... A. SUIT Communitization Agreement Number. B. Full and complete description of lands and associated formations (must match original.That doesn't mean you yourself can not find a sample to utilize, however. Download Designation of Successor Operator, Communitization Agreement from the US ... ... filled must be filled in the following order of priority: A. By a person designated in the terms of the trust to act as successor trustee; [PL 2003, c. 618 ... Subject to the rights of creditors and taxing authorities, competent successors may agree ... Maine law to the public. If you need legal advice, please consult a ... Open the document and fill out all its fields. Apply your legally-binding eSignature. Save and invite other recipients to sign it. ... agreements, including a gas storage and secondary recovery unit agreement. ... Designation of Successor Operator, Communitization Agreement; Designation of ... An operator may be the lessee, designated agent of a lessee, or a holder of ... Communitized production.: A communitization agreement (CA) allows companies ... Jun 10, 1983 — Documents are on file for public inspection in the Office of the Federal Register the ... agreement, each such tract of unitized land shall have ... Aug 12, 1983 — Documents are on file for public inspection in the Office of the Federal Register the ... Agreement Act of 1937, as amended (7 U.S.C. 601-674) ...

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Maine Designation of Successor Operator, Communitization Agreement