This form creates an Area of Mutual Interest ( AMI ) comprising the Contract Area. During the term of this AMI, if any Party acquires all or any interest in any Oil and Gas Leases, any mineral interest, or any farmouts or other contracts which affect lands and minerals lying within the AMI, the Acquiring Party shall promptly advise each of the other Parties of the acquisition, at which time each Offeree shall have the right to acquire its proportionate interest in the Oil and Gas Interest.
The Michigan Area of Mutual Interest (AMI) refers to a designated geographic area in the state of Michigan where multiple stakeholders have demonstrated a keen interest in the exploration and potential development of oil and gas resources. The AMI is primarily based on geological characteristics and potential reserves present within this particular region. It is important to note that the Michigan AMI does not indicate ownership or exclusive rights to the area; rather, it serves as a mechanism to encourage collaboration and communication among interested parties. Within the Michigan AMI, there are different types of areas of mutual interest, each with its specific characteristics and stakeholders. These include: 1. Antrum Shale AMI: The Antrum Shale formation is primarily found in the northern part of Michigan's Lower Peninsula. It is a significant natural gas play and has attracted the attention of numerous oil and gas companies, landowners, and regulatory bodies within the Antrum Shale AMI. 2. Utica-Collingwood AMI: The Utica-Collingwood formation is located in the northeastern part of the state and encompasses several counties. It is considered a potential oil and gas reservoir, generating interest from industry players, landowners, and regulatory agencies in the Utica-Collingwood AMI. 3. A-1 Carbonate AMI: The A-1 Carbonate formation stretches across various areas of northern Michigan and is recognized for its potential oil and gas resources. Stakeholders within the A-1 Carbonate AMI include companies, landowners, and regulatory bodies seeking to assess its exploitable deposits. 4. Traverse Formations AMI: The Traverse formations, including the Traverse Group, Traverse Shale, and Traverse Dolomite, are present in multiple regions of Michigan. These formations have attracted interest due to their potential for oil and gas deposits, leading stakeholders in the Traverse Formations AMI to collaborate on exploration and potential development. 5. Niagara Reef Trend AMI: The Niagara Reef Trend encompasses a wide area from northeast to southwest Michigan. It includes oil and gas-rich geological formations, such as the Dundee, Detroit River, and Trenton-Black River formations. Stakeholders within the Niagara Reef Trend AMI collaborate to identify and pursue opportunities in these formations. The Michigan AMI allows interested parties to share information, data, and best practices, thus improving efficiency and minimizing environmental impact during exploration and development activities. This collaborative approach helps coordinate efforts, avoids duplication, and fosters a responsible and sustainable exploration of oil and gas resources within the designated Michigan AMI.The Michigan Area of Mutual Interest (AMI) refers to a designated geographic area in the state of Michigan where multiple stakeholders have demonstrated a keen interest in the exploration and potential development of oil and gas resources. The AMI is primarily based on geological characteristics and potential reserves present within this particular region. It is important to note that the Michigan AMI does not indicate ownership or exclusive rights to the area; rather, it serves as a mechanism to encourage collaboration and communication among interested parties. Within the Michigan AMI, there are different types of areas of mutual interest, each with its specific characteristics and stakeholders. These include: 1. Antrum Shale AMI: The Antrum Shale formation is primarily found in the northern part of Michigan's Lower Peninsula. It is a significant natural gas play and has attracted the attention of numerous oil and gas companies, landowners, and regulatory bodies within the Antrum Shale AMI. 2. Utica-Collingwood AMI: The Utica-Collingwood formation is located in the northeastern part of the state and encompasses several counties. It is considered a potential oil and gas reservoir, generating interest from industry players, landowners, and regulatory agencies in the Utica-Collingwood AMI. 3. A-1 Carbonate AMI: The A-1 Carbonate formation stretches across various areas of northern Michigan and is recognized for its potential oil and gas resources. Stakeholders within the A-1 Carbonate AMI include companies, landowners, and regulatory bodies seeking to assess its exploitable deposits. 4. Traverse Formations AMI: The Traverse formations, including the Traverse Group, Traverse Shale, and Traverse Dolomite, are present in multiple regions of Michigan. These formations have attracted interest due to their potential for oil and gas deposits, leading stakeholders in the Traverse Formations AMI to collaborate on exploration and potential development. 5. Niagara Reef Trend AMI: The Niagara Reef Trend encompasses a wide area from northeast to southwest Michigan. It includes oil and gas-rich geological formations, such as the Dundee, Detroit River, and Trenton-Black River formations. Stakeholders within the Niagara Reef Trend AMI collaborate to identify and pursue opportunities in these formations. The Michigan AMI allows interested parties to share information, data, and best practices, thus improving efficiency and minimizing environmental impact during exploration and development activities. This collaborative approach helps coordinate efforts, avoids duplication, and fosters a responsible and sustainable exploration of oil and gas resources within the designated Michigan AMI.
